Asset managers mobilize for the French healthcare industry

Posted on Dec. 2020 at 12:51Updated 14 Dec. 2020 at 13:52

It was their most anticipated spring engagement. French insurers announced on Monday, alongside Caisse des Dépôts, an investment of 780 million euros in the health sector through three funds dedicated to this sector. This commitment results from the promise to devote 2.2 billion euros to the recovery of the economy, after the recurring criticisms on the lack of support from insurers to companies affected by the health crisis. The goal of their latest initiative: “Strengthen our country’s health sovereignty by investing in particular in the fields of research, infrastructure, logistics and health services. “

The investors, led by the French Insurance Federation, have selected three asset managers, each in charge of a specific pocket called “Nov”, named after the first market funds launched in 2010. Eurazeo sees itself entrust an unlisted equity fund of 420 million euros and Eiffel Investment a vehicle of 270 million euros dedicated to corporate debt. Each of them will support between 15 and 20 SMEs and midcaps, mostly French. The third fund for an amount of 90 million euros, dedicated to biotechs, medtechs and listed e-health players, is in the hands of Tocqueville Finance, a subsidiary of La Banque Postale Asset Management.

Leave a Reply

Your email address will not be published. Required fields are marked *