Paris-based mid-market debt firm Rivage Investment has launched an Article 9 impact fund with a €250 million target. The European Climate Debt Solutions Fund – known as EUCLIDES – has received a €30 million cornerstone commitment from the European Investment Fund.
The fund will invest in small- and medium-sized European climate companies, providing “tailor-made debt instruments generally associated with return enhancers such as warrants”, according to a press release from EIF.
Rivage is the latest in a growing crowd of debt firms to launch impact strategies. The firm closed its most recent fund, REDI HR2, at €745 million in April 2022.