Trocadero Capital Partners was selected by the French Insurance Federation (FFA) to participate to the Relance Bond program, within a consortium led by Eurazeo Investment Manager and which also includes Zencap Asset Management and Smalt Capital. The initial commitment allocated to the consortium is around € 300M.

 

The objective of the Relance Bond program is to provide long-term financing to small and medium-sized businesses that present a development or transformation project, aiming for organic growth through innovation or acquisition.

 

The Relance Bond program was co-designed by the insurers of the French Insurance Federation, in cooperation with AFG and France Invest, under the aegis of French Treasury.

The Relance Bond program : a mechanism of the French Recovery Plan.

In March 2021, as part of the France Relance Plan, the Minister of the Economy ; Bruno Le Maire announced the creation of two new programs for SMEs and mid-cap companies: the Participation Loans Relance program and the Relance Bond program. These long-term financing tools aim to provide responses adapted to companies’ needs  following the Covid-19 crisis, and in particular to support their development projects and investment operations. The Relance Bonds program will be available for companies until December 31, 2023 (subject to the adoption of amendment II-3532 to the PLF and validation by the European Commission).

The Relance Bonds are long subordinated financing (bullet with a maturity of 8 years) granted by groups of managers selected by the French Federation of Insurance, and with a target interest rate of less than 6%, depending on the quality of the company and the soundness of its project. They are complementary to the Participation Loans Relance program, redeemable after 4 years and granted to companies by banks.

The Relance Bonds Program is 90% financed by insurance companies, and benefit from a partial State guarantee. The last 10% are funded by the management companies awarded by French Insurance Federation and others partner private investors.

Nicolas Gagnez, Managing Partner, to declare “In line with our expertise in bonds and minority capital; we are pleased to be one of the seven consortiums selected, with our partners Eurazeo, Smalt and Zencap to manage this program of about 300 million euros. Trocadero Capital Partners is pleased to participate to this essential mechanism so that companies have the resources to move forward and pursue their investments for future: external growth, innovation and competitiveness.

1
December
2021