RiverRock closes acquisition of Exterimmo in France
RiverRock, an alternative asset management firm which invests in real assets in Europe, is pleased to announce the acquisition of Exterimmo from Caisse des Dépôts. The transaction is done through its fund RiverRock Brownfield Infrastructure I (“RBIF1“).
Exterimmo holds 11 social infrastructure projects or participations structured as Public-Private Partnership (“PPP”) in France.
Launched in September 2018, RBIF1 is a fund specializing in the investment and management of participations in small and medium sized PPP-type projects located in the euro area.
It is the first transaction of RBIF1 in France. It had completed two transactions in Spain where it holds a portfolio of police stations in Catalonia, as well as a stake in the regional hospital of Vigo. With Exterimmo, RBIF1 now manages 23 participations in Europe.
For Emilie Rouchon and Olivier Sueur, portfolio managers of the fund: “We are delighted to acquire this high-quality portfolio. We were particularly attracted by the number and diversity of the projects as well as the quality of the stakeholders, both from the public and the industrial side.
Our ambition is not only to keep adhering to Exterimmo’s commitments to existing projects but also to strengthen its position as a reference player in small and medium-sized PPPs on the French market and particularly in the energy transition sector, as embedded in the Fund’s ESG principals. RiverRock is proud to have been selected and retained as a partner by the Caisse des Dépôts.”
RiverRock has been advised by Taylor Wessing (Legal and Tax), H3P (Financial) and Hogan Lovells – Luxembourg (Tax).
Caisse des Dépôts has been advised by Ernst & Young (Financial Advisor) and Allen & Overy (Legal).
About RiverRock www.riverrock.eu
RiverRock European Capital Partners LLP is an alternative asset management firm which invests in private markets and real assets. It is headquartered in London and with offices in Paris, Milan and Madrid.
RBIF1 is a closed-end fund which is domiciled in Luxembourg, managed by RiverRock and regulated by the Commission de Surveillance du Secteur Financier (“CSSF”). RBIF1 invests in core European Infrastructure equity and focuses on operating PPP assets, primarily those with availability-based revenues. The geographic focus is Euro-denominated Western Europe.
RiverRock is authorised and regulated by the Financial Conduct Authority in the UK.