France’s Pension Reserve Fund (FRR) has completed its tender process for unitranche private debt mandates targeting French small and medium-sized enterprises (SME) and mid-caps.
The three mandates represent a total value of €420m and an initial term of 12 years.
They were awarded to Eurazeo Global Investor, Eiffel Investment Group, and Zencap Asset Management.
The allocation aims to finance the development of SMEs and mid-caps while providing the FRR with exposure to a high-performing asset class that directly contributes to financing the real economy.
FRR said the strategy would prioritise long-term financing designed to support growth, business transfers, and corporate development.
The pension fund added that the mandates aligned with its ambition to combine financial performance with economic impact.
Its mandates will also meet the pension fund’s environmental, social, and governance (ESG) requirements, which are implemented through the use of mechanisms to link financing terms to the achievement of predefined ESG objectives.
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