London, 7 March 2024
With €100M of aggregate commitments from institutional investors, Advisors & Partners LLP
announces the first closing and launch of the Selective European Transportation Equipment Fund, a
private equity infrastructure transition finance fund focusing on the European transportation
sector, benefitting from the early backing of the European Investment Bank (“EIB”) and the Banque
des Territoires (Caisse des Dépôts Group).
Alternative assets specialist Advisors & Partners LLP (“A&P”) announced today it has launched A&P
Selective Investment Fund S.C.A., SICAV-FIAR – Selective European Transportation Equipment Fund
(“SETEF”), the first fund in a series of private equity infrastructure transition finance funds dedicated
to the long-term development, operation, and financing of European transportation equipment
assets.
SETEF’s first closing and launch took place with initial aggregate commitments from investors of €100
million. The target fund raise is €160 million with a 30% hard cap of €208 million. A&P plans to raise
the balance of capital during 2024. The final closing date for investors to subscribe is expected to take
place on or before Q4-2024.
The fund’s investment strategy supports the European Green Deal and the UN Climate Change
Initiatives, helping to decarbonise EU economic flows by facilitating a modal shift from road freight
transport towards safer, more sustainable, and environmentally friendly rail and river transportation.
SETEF is positioned at the heart of Transition Finance and is a co-investment vehicle organised as a
closed-ended fund to satisfy increasing demand from investors looking to allocate useful long-term
capital directly into multiple real asset investments that respect the environment and produce long
term, stable and repeatable returns.
The project has been supported by Luxembourg based EIB and Paris based Banque des Territoires as
anchor and lead investors in SETEF. A&P appointed TOUAX Group, a leading operator and lessor of
transportation equipment assets, as SETEF’s Preferred Operating Company. TOUAX will operate
alongside other operating companies to be appointed in due course.
Freight railcars and river barges owned by SETEF will be leased out, under operating leases, to logistics
operators, private and state-owned railway companies, as well as industrial businesses throughout
Europe and neighbouring countries, generating long-term and stable lease revenues.
Philippe Teilhard de Chardin, CEO of Advisors & Partners said:
“We are delighted to be partnering with EIB and Banque des Territoires, and leading operator TOUAX who have a demonstrable and longterm track record in leasing and operating transportation equipment assets. Our partnership will help aggressively drive the modal shift of freight transportation from road and onto both railways and inland waterways. Our collaboration will allow investors to participate directly in transition finance towards a low carbon economy, helping to reduce CO2 emissions within the transport sector, the largest contributor of carbon emissions in Europe.”
Pascal Varin, Investment Advisory Committee Executive Member, Advisors & Partners said:
“The benefits of this collaboration are multi-fold: to provide access to the highly regulated and specialised operations of the European transportation equipment market, as well as direct exposure through the ownership of underlying assets in the form of a co-investment arrangements. This aligns operating companies’ own interests with SETEF investors’ interests. Our collaboration and investment lead will allow investors to take advantage of a major need for equipment modernisation in replenishing the old European fleets with new fleets whilst contributing to reducing CO2 emissions within the EU transport sector.”
Pierre Aubouin, Head of the Infrastructure and Mobility Section of the Investment Department of
Banque des Territoires said:
“Freight transport forms the backbone of a modern industrial and service economy. As a financial instrument, SETEF provides a significant step contributing towards the modal shift from carbon-intensive road transport towards safer, more sustainable, and environmentally friendly modes of freight transportation such as rail and fluvial transport. SETEF is a useful intermediation vehicle to help transportation equipment operators accompany the economic development through rail and waterways in France and the EU, fostering the massification of goods transportation whilst accelerating decarbonisation”.
Fabrice Walewski, co-CEO of TOUAX Group said:
“We are very pleased to have been selected as Preferred Operating company by this new asset related European infrastructure fund. Freight railcar and river barge investments have been part of our core businesses for more than 170 years. These investments will be added to our 1.3 billion € of transportation assets already under our operational management and we are very pleased to bring all our expertise to SETEF and their very well-known LPs. Through our operating leasing activities, we will deploy this new capital and continue helping customers develop sustainable transport activities”.
About Advisors & Partners
Advisors & Partners LLP (“A&P”) is an independent, privately held, London-based Investment Advisor.
The company’s objective is to provide innovative alternative investment solutions for institutional
investors within infrastructure and real assets. The company’s investment focus is with investments
that display ESG and sustainability characteristics, which offer both capital preservation and longterm,
regular, and stable returns for investors. Advisors & Partners GP S.à.r.l, a 100% subsidiary of
A&P, is the General Partner to the Selective European Transportation Equipment Fund, a sub-fund of
the A&P Selective Investment Fund S.C.A., SICAF-RAIF, a corporate partnership incorporated in
Luxembourg.
Advisors & Partners LLP, Devonshire House, One Mayfair Place, London W1J 8AJ
www.advisorsandpartners.co.uk – E-mail: info@advisorsandpartners.co.uk – Tel. +44 (0) 203 205 7134
About European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union,
owned by its Member States. It finances sound investments that contribute to EU policy objectives.
EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance
social and territorial cohesion, and support a just and swift transition to climate neutrality. The EIB
Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new
financing for over 900 projects in 2023. These commitments are expected to mobilise around
€320 billion in investment, supporting 400 000 companies and 5.4 million jobs.
https://www.eib.org Christophe Alix, c.alix@eib.org +33611813099
About Banque des Territoires
Banque des Territoires is one of Caisse des Dépôts’ five areas of expertise and brings all in-house
expertise targeting local areas under a single umbrella. As a one-stop shop for customers, it works
with all local stakeholders, including local authorities, local public-sector enterprises, social housing
bodies, legal professions, businesses, and financial players. Banque des Territoires assists these
stakeholders with the implementation of their public interest projects by providing a continuum of
solutions: advice, loans, equity, bank services, consignments, and special deposits. By serving the
interests of all local areas alike, from rural municipalities to large cities, Banque des Territoires aims
to maximise its impact, notably on ecological transformation and social and regional cohesion. Its 37
territorial offices ensure its action is rolled out across all metropolitan and overseas territories.
Working together to develop more eco-friendly and socially-responsible territories.
Contact – Banque des Territoires: Malek Prat – 06 71 43 46 38 – malek.prat@caissedesdepots.fr
About Touax Group
For 170 years, Touax Group has developed a unique experience in leasing, sales, and technical and
financial management of sustainable transport equipment to become one of the European leaders.
Touax Group manage €1.3B of tangible assets (freight railcars, river barges and containers)
internationally for its own account and on behalf of investors.
Touax Group, Tour Franklin, 100-101 Terrasse Boieldieu, 92042 Paris-La Défense
www.touax.com – E-mail: contact-touax@touax.com – Tel. +33 (0) 1 46 96 18 00
