Mirova Launches New €200 Million Private Equity Impact Fund
Sustainability-focused investment manager Mirova has announced the launch of Mirova Impact Life Essentials (MILE), a new private equity fund aimed at supporting companies contributing to the transition to a better society by addressing key sustainability challenges ranging from climate change to growing inequality,
Mirova said that it aims to raise €200 million (USD$218 million) from institutional and individual investors for the new private equity strategy.
Marc Romano, Head of Impact Private Equity at Mirova said:
“We are proud to announce the project launch of this new strategy, which will enable institutional and retail investors to have a tangible socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. and societal impact by contributing to the growth of companies committed to basic needs. Convinced that companies developing innovative technological solutions are those with the greatest scope for growth, we are offering our clients the opportunity to combine a positive societal impact with attractive potential returns.”
According to Mirova, the new strategy will target four investment themes, including Knowledge & Skills, such as inclusive education and the future of work; Well-being & Health, such as accessibility of care and prevention and ageing well; Mindful Consumption such as responsible and sustainable consumption and circular economy; and Diversity & inclusion such as citizenship and raising awareness on environmentalEnvironmental criteria consider how a company performs as a steward of nature. and socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. issues. The new fund will favor an opportunistic approach, with minority or majority stakes throughout the capital deployment period.
The new fund will be led by Judith-Laure Mamou-Mani, who joined Mirova in 2023 to steer the new strategy.
Mamou-Mani said:
“At a time when profound paradigm shifts are underway, the project launch of MILE is positioned to support this inevitable societal transition, which will impact our lifestyles. It will give investors access to an unrivalled ecosystem dedicated to impact and real assets.”
Mirova intends to classify MILE under “Article 9” within the European SFDR regulation framework.
