CNP Assurances and Natixis to Co-invest in Infrastructure Debt
CNP Assurances and Natixis have signed a memorandum of understanding in order
to co-invest through a partnership in infrastructure debt.
PARIS, June 10, 2013
PARIS, June 10, 2013 /PRNewswire/ --
CNPAssurances believes that infrastructure debt offers interesting
alternative investment opportunities with the benefit of greater asset
portfolio diversification and an attractive risk-return profile. Furthermore,
as a leading French institutional investor, CNPAssurances wants to take its
part in infrastructure financing in order to stimulate sustainable, resource
efficient and job-creating growth, in the spirit of the Europe 2020 Strategy.
Natixis is a leading French financial institution with a well-established and
proven track record in infrastructure financing. Natixis has developed an
operational platform to facilitate the access of institutional investors to
the infrastructure debt instruments.
The agreement between CNPAssurances and Natixis has the following main
Natixis will be in charge of originating and introducing new primary
infrastructure transactions to CNPAssurances in agreement with the investment
criteria set between the parties (countries, sectors, currencies) ;
CNPAssurances will, after its credit committee has made its own analysis and
followed its own approval process, select the transactions that it wants to
invest in, targeting single investments between EUR 50 million and EUR 150
million per transaction ;
Natixis will retain a significant portion of each deal on the bank's balance
sheet in order to ensure alignment of interest all along the life of the
CNP Assurances targets an amount of this loan infrastructure debt portfolio of
up to EUR2 billion over a 3-year period ;
Natixis will ensure the servicing and administration of all assets in this
A similar partnership agreement was signed between Ageas and Natixis in
December 2012. With this new partnership with CNPAssurances, Natixis together
with its partners now has the capacity to commit significant amounts to the
financing of infrastructure projects across Europe. Natixis will pursue the
development of its infrastructure debt platform on other selected currencies.
About CNP Assurances
CNP Assurances is France's leading personal insurer, with net profit of €951
million in 2012. The Group also has operations in other European countries and
in Latin America, with a significant presence in Brazil. It has 23 million
savings and personal risk policyholders worldwide and 17 million insureds
under term creditor insurance contracts.
CNP Assurances's business is to promote confidence in the future by offering
products that protect against the risks of everyday life. The Group designs
and manages life insurance, pension, term creditor insurance and personal risk
insurance products. The products are distributed by partners that have a
strong market presence.
In France, CNP Assurances distributes its individual insurance products
through La Banque Postale and the Caisses d'Epargne, as well as through its
own CNP Trésor network.
In group insurance, CNP Assurances and its international subsidiaries design
term creditor insurance products for a large number of financial institutions.
They also craft tailor-made pension and employee benefits contracts for local
authorities, companies and mutual insurance partners.
Listed on the first market of the Paris Bourse since October 1998, CNP
Assurances enjoys the backing of a core group of four major shareholders
(Caisse des Dépôts et Consignations, La Banque Postale, Groupe BPCE and the
French State) united by a shareholders' agreement.
Natixis is the corporate, investment and financial services arm of Groupe
BPCE, the 2nd-largest banking group in France with 21 % of total bank deposits
and 36 million clients spread over two networks, Banque Populaire and Caisse
With around 22,000 employees, Natixis has a number of areas of expertise which
are organized in three main business lines : Wholesale Banking, Investment
Solutions and Specialized Financial Services.
A global player, Natixis has its own client base of companies, financial
institutions and institutional investors as well as the client base of
individuals, professionals and small and medium-size businesses of Groupe
BPCE's two retail banking networks.
Listed on the Paris stock exchange, it has a solid financial base with total
Core Tier 1 capital of €12.5 billion, a Core Tier 1 ratio of 9.4 % (Basel 3,
pro forma of the Project for the sale of the CCIs, fully loaded except on
DTAs) and quality long-term ratings (Standard & Poor's: A / Moody's: A2 /
Fitch Ratings: A+). Figures as at March 31 2013.
Natixis Global Infrastructure & Projects ("GIP") is a recognised player in the
Infrastructure space. GIP has notably obtained the following rankings and
#1 Financial Advisor and Arranger in France for PPP, Concessions or DSP
#3 "Best arranger of project finance loans" by Euroweek
#5 Bookrunner for Project Finance in EMEA
More information on Natixis infrastructure expertise available on
Florence de MONTMARIN
SOURCE CNP Assurances
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