Milan, 9 August 2023 - Infrastructure Debt Fund 1 (IDF1), the infrastructure debt fund of F2i SGR, announces the completion of a new financing transaction, belonging to a strategic sector in terms of sustainability.
F2i - Infrastructure Debt Fund 1 has directly structured and underwritten the long-term tranche of a EUR 37 million financing to Veritas Spa, a company active since 2007 in the integrated water and waste management service in 51 municipalities in the provinces of Venice and Treviso since 2007. Veritas investments are undertaken in close cooperation with the local communities with the ultimate yarget of having a positive effect on the territory in which the company is active: as of today, Veritas has already exceeded European targets on separate waste sorting and circular economy. In this respect, the new financing supports the company’s capex plan which, solely for 2023, has a size of more than EUR 120 million and is aimed at the modernization of the company’s water distribution network, increase of capacity of its waste-to-energy plant fed with the unsorted waste fractions, as well as the upgrade of its sorted waste recycling processing plants.
This transaction represents the latest addition to the fast capital deployment trajectory followed by the Fund, wich, to date, has finalized 6 investments totalling approximately EUR 250 million and confirm F2i SGR capacity to autonomously originate and execute direct lending transactions in support of the real economy.
IDF1 is a fund focused on investments in Italy and Europe, classified as Art. 8 of the EU Sustainable Finance Disclosure Regulation (SFDR) Regulation as it invests in direct loans and bonds relevant to strategic infrastructures and promotes environmental and social characteristics in accordance with the principles of good governance practices. In line with the Fund's ESG strategy, the investment announced today concur to the promotion of an efficient and sustainable use of energy and raw materials, with subsequent improvement of the sustainability of the territories and the reduction of polluting emissions.
"The investment in infrastructure debt is a strategy that is having a strong development in the world, thanks to its low risk profile combined with a return that is linked to interest rates’ dynamics, thus ensuring stable and predictable remunerations. IDF1 has been the first fund with this profile to be set-up in Italy and the success experienced in fund-raising, as well as the rapid deployment into some of the most significant transactions at European and Italian level, confirm F2i SGR capacity to constantly develop new solutions for its investors in support of the real economy” commented Renato Ravanelli, CEO of F2i Sgr.