The European Investment Fund signed an agreement on 18 September, investing €40 million in SP EuroCréances 2018, a private debt fund in France managed by Schelcher Prince Gestion. This is one of the first investments made by the EIF under the programme “Private credit tailored for SMEs”, whose aim is to foster private investment for tailor-made solutions for European SMEs and small mid-caps.
The project combines EIF resources with the European Fund for Strategic Investments, known as the Juncker Plan, for a total of €1 billion.
“By investing in private debt funds, we are promoting more cross-border investments in Europe”, said Elżbieta Bieńkowska, European Commissioner for internal market, industry, entrepreneurship and SMEs.
The activities of the European Investment Fund foster the Union’s objectives to promote innovation, research and development, enterprise creation, growth, and job creation.