Tikehau, Unilever, Axa form EUR 1bn impact fund

The three parties have signed a memorandum of understanding to create the impact fund, which Tikehau will manage.

Impact objectives will be a key driver of the investment strategy as the fund seeks to decarbonize the economy through impact investment, according to the press release. 

The new impact fund is not Tikehau’s first foray into sustainable investing, having launched the T2 Energy Transition Fund in March 2018. The fund held a final close on EUR 1.1bn in 2021 surpassing its target of EUR 1bn, according to Unquote Data. The fund was dedicated to energy transition and decarbonization and the GP expects to harness that experience. The sponsor now has almost EUR 2bn of AUM focused on mitigating climate change across various asset classes, according to the press release.

Axa aims to have EUR 26bn invested in green assets by 2023, and EUR 1.5bn to invest in forests and natural capital projects, while Unilever had committed to invest EUR 1bn in climate and nature projects in 2020. Tikehau aims to have EUR 5bn of AUM by 2023 reserved for tackling climate change, according to the press release. Axa Climate, an Axa subsidiary, will take a role in launching and deploying the funds as it harnesses its expertise in the agriculture sector, according to the press release.

Investors
Tikehau, Axa and Unilever have each made a EUR 100m commitment to the fund. The vehicle will now be open to new LPs, according to the press release.

Investments
The vehicle intends to invest in companies dedicated to promoting biodiversity, combating climate change, discovering technological solutions to accelerate the transition to regenerative agriculture, and meeting consumer demands for sustainable products, according to the press release.

A spokesperson for Tikehau told Unquote that the fund will offer equity and equity-like funding to companies, as well as their underlying projects that enable and scale up regenerative agriculture practices. The vehicle will aim to invest in 15-20 companies. The spokesperson added: "Capital may be fully deployed at the time of initial investment, or be outlaid gradually, for example, in a multi-year funding commitment."

The fund expects to invest on a global basis and will leverage the networks of all three companies to source deals, according to the press release.

The vehicle intends to create a systemic form of collaboration between stakeholders across the value chain, including farmers, manufacturers, retailers, and financial investors.

People
Tikehau Capital - Helene Henry-Prince (executive director); Pierre Abadie (climate director); Cecile Cabanis (deputy CEO).
Axa - Pascal Christory (group CIO); Antoine Denoix (CEO).
Unilever - Eric Soubeiran (VP Climate & Nature Fund). 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyout
• Consumer
• Benelux
• CEE
• France
• DACH
• Nordics
• Southern Europe
• UK / Ireland
• Tikehau Capital
• Impact
• France