SP EuroCréances 2020 has been selected by the EIF in the context of the European Guarantee Fund (EGF) to support SME and small mid-caps affected by the restrictions related to the Covid-19 pandemic.
Paris, September 20th, 2021 - After a first investment in 2019 in the SME compartment of SP EuroCréances 2020, the European Investment Fund (EIF) is increasing its exposure to the same compartment with an additional investment in the Classique compartment of the same fund. This fund has been selected by the EIF in the context of the European Guarantee Fund (EGF) to support SME and small mid-caps affected by the restrictions related to the Covid-19 pandemic. The fund was deploying and investing during the pandemic and this additional investment from EIF will allow to support French companies hit by COVID, allowing them to benefit from EU crisis funds.
SP EuroCréances 2020 is a private debt fund of €460 million with 2 compartments, which invests mainly in senior secured loans to French SMEs and Small Mid-Caps. The fund is managed by the private debt team of Schelcher Prince Gestion and has already lent to 25 companies and is envisaged to provide financing to additional 25 to reach the target of 50 European companies financed by the fund.
This additional investment by the European Investment Fund (EIF) in SP EuroCréances 2020 is the first investment made as part of the deployment of the Pan-European Guarantee Fund (EGF) established to address the economic consequences of the COVID-19 pandemic. This is one of the measures taken by the European institutions to limit the effects of the crisis on the economy. The objective is to support tailor-made financing solutions for SMEs and mid-sized companies. This investment is a continuation of the EIF's first investment in SP EuroCréances 2020 initiated under the Investment Plan for Europe, or Juncker Plan.