M&G Launches €300m Impact Private Debt Fund with KPN Pension Fund
M&G Investments has launched a new impact-focused private debt strategy with a €300m commitment from Pensioenfonds KPN. This comes amidst a surge in demand for impact-focused private debt in Europe, with dedicated funds tripling over the past decade to raise over €66bn globally.
The fund will primarily invest in European private corporate loans, with a remit to invest globally. It is SFDR Article 9-classified, aiming to provide corporate loans to businesses generating positive environmental and social outcomes. All investments must meet a minimum set of sustainable criteria to be considered.
The partnership between M&G and Aegon Asset Management in this area was established in 2021. Karin Roeloffs, head of fiduciary management at Aegon Asset Management, stated that M&G was selected for the impact corporate debt mandate after an extensive search focusing on ESG and impact investing. Sander Van der Wel, M&G's director of institutional business development in the Netherlands, sees long-term institutional investors as well-positioned to provide patient capital for such investments.
Twelve investments have already been completed, including a commitment to Bollegraaf Group, a Dutch firm focused on advanced recycling technologies.
M&G's new impact-focused private debt strategy, backed by Pensioenfonds KPN, is set to make a significant impact in the European private debt market. With a focus on sustainability and positive outcomes, the fund is poised to support businesses that align with its environmental and social goals.
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