The group formed by TURENNE GROUPE and GENEO Partenaires chosen by the insurers (FFA) and Caisse des Dépôts as the delegatee to manage and invest €220 million in Relance Bonds
PRESS RELEASE
16/11/2021
As part of the implementation of the new Recovery Bonds, TURENNE GROUPE and GENEO Partenaires have 220 million euros available to enable SMEs and ETIs to finance their future projects by turning the page on the health crisis.
The Relance Bonds: a mechanism of the Relance Plan
In March 2021, as part of the France Relanceplan, the Minister of the Economy Bruno Le Maire announced the creation of two new schemes for SMEs and ETIs the Equity loans Relance and the Relance Bonds. These long-term financing tools aim to provide responses adapted to the needs of companies following the Covid-19 crisis and in particular to support their development projects and their investment operations. Relance Bonds may be issued by companies until 31 December 2023 (subject to the adoption of amendment II-3532 to the PLF and validation by the European Commission).
The Relance Bonds are long subordinated financings (with a maturity of 8 years repayable in fine) granted by groups of managers selected by the Fédération Française de l'Assurance, and with a pivotal rate of less than 6%, depending on the credit quality of the company and the soundness of its project. They are complementary to the Relance equity loans, amortizable after 4 years and granted to companies by their banking institution.
The Relance Bonds are 90% financed by insurance companies, which benefit from a partial guarantee from the State, and 10% by the management companies awarded the tender and other private partner investors.
Selected by the French insurance federation, the group composed of management companies TURENNE GROUPE and GENEO is mobilising for the distribution of a 220 million euro envelope.
They will benefit from the support of several regional banks that are keen to assist their clients in their development projects.
Mathilde PAOLI, Managing Partner of GENEO states In the continuity of its equity development capital business, GENEO has entrusted me with the launch of a mezzanine debt development capital practice. In this context, it was natural to apply for the management of an envelope of Relance Bonds, and we are pleased to be one of the seven groups selected with our partner Turenne to manage this €220 million portfolio. True to its raison d'être, positive finance, GENEO Partenaires is pleased to participate in this essential mechanism to ensure that companies have the necessary resources to move forward and pursue their future investments: external growth, innovation and competitiveness.
Christophe Deldycke, Chairman of the Management Board, Turenne Groupe , says: " We are very pleased to have beeń selected as the head of the Grouping to manage and invest a dedicated Obligations Relance fund. The aim of this fund is to support companies that have proved resilient in the crisis. These Relance Bonds are a simple and accessible product for SMEs. Our partnership with GENEO, which shares the same ambition of impact as TURENNE, will enable us to increase our capacity to deploy the fund.
About GENEO Partners
The raison d'être of GENEO Partners is to provide SMEs and SMBs with positive positive finance. An independent management company founded and owned by its current team, it manages GENEO Capital Entrepreneur, an investment and support company with 270 million euros under management. Business partner, GENEO mobilises to provide support for the execution of structuring, growth and transformation projects through our teams, including our specialised business partners (external growth, positive impact, digital and innovation), as well as our platform of over 70 independent experts and our Community of 140 families and entrepreneurs, which offers a sharing of experience and business networks unheard of in France. The modalities of this operational support are adapted to the specific needs of each company and formalised jointly by the GENEOteam, the management team and the other shareholders of the company in a "Growth booklet".
Passionate about those who make, create and want to move the lines, the only ambition of the team GENEO is to take each entrepreneur's ambition to the highest level.
At GENEOwhen we invest, we invest!
Contact GENEO Partners
Mathilde PAOLI : mathilde@geneocapitalentrepreneur.com
Press contact
Otto Agency / Géraldine Otto
Tel: 06 18 43 86 22
ABOUT TURENNE GROUPE
Turenne GroupOne of the leading private equity firms in France, the group has been supporting entrepreneurs for 22 years in their innovation, development and transfer projects. An independent player, the group manages €1.4 billion. Its teams of 70 professionals, including 54 investors, based in Paris, Lille (Nord Capital Partenaires), Lyon, Bordeaux, Marseille, Nice and Metz, support 290 entrepreneurs, particularly in the healthcare, hotel, innovation, B2B services, digital and impact sectors.
As a committed investorAs a responsible company, Turenne Groupe actively supports its portfolio companies in their CSR approach. As a responsible company, it finances and runs the Fondation Béatrice Denys pour l'Innovation Thérapeutique, which rewards the most successful projects in French academic medical research with a view to creating a company, and it supports the Association Banlieue Sans Frontières en Action (BSFA), which aims to improve the living conditions of suburban residents through professional integration.
Contact TURENNE GROUP
| TURENNE GROUP
Josépha MONTANA 01 53 43 03 03 | 06 01 21 21 49 |
TADDEO
Laurence TOVI 06 34 78 36 32 |
TADDEO
Louis Branger 06 76 23 52 85 |