Waterland secures €500m ESG facility for eighth fund

Harriet Matthews
04 June 2021

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Waterland Private Equity has announced that it has secured a €500m ESG-linked equity bridge facility for Waterland Private Equity Fund VIII, which held a final close in December 2020 on €2.5bn.

The facility was arranged by Natixis, ABN Amro and Rabobank, according to a statement.

Waterland said in a statement that this is its first ESG equity bridge facility. The interest repayments of the facility are linked to key performance indicators for both Waterland and the portfolio companies in Waterland VIII.

Sustainability is one of Waterland's investment strategy themes, alongside ageing population, leisure and luxury, and outsourcing and digitalisation.

The fund made its first investment in April 2021, acquiring Germany-based software developer Gesellschaft für Organisation und Datenverarbeitung (GOD).

ESG-linked facilities have been announced recently by GPs including AlpInvest and Bluewater. AlpInvest's facility is linked to the ESG performance of AlpInvest Co-Investment Fund VIII, as reported, and was also provided by ABM Amro. Bluewater's facility was a NAV-based facility for Bluewater Energy Fund I, which held a final close in May 2013 on $861m, exceeding its $750m target. The facility was provided by Investec, as reported.