CACEIS assists ARDIAN and FiveT Hydrogen in setting up the world’s largest Green Hydrogen infrastructure fund
CACEIS, a leading European asset servicing group, has been mandated by Hy24, an investment management firm specialising in Green Hydrogen infrastructure investment to provide custodian bank and registrar services for its first fund. Providing support services for CACEIS clients’ renewable energy initiatives demonstrates the commitments Crédit Agricole Group has taken as part of its Societal Project.
On 1st October 2021, Ardian, a global leader in the private investment space, and FiveT Hydrogen, an investment platform focused on Green Hydrogen infrastructure projects announced the creation of Hy24, their new investment management company. Starting in 2022, Hy24 will manage the world's largest fund specialised in Green Hydrogen infrastructure.
The fund, named “Clean H2 Infra Fund SLP”, will be managed as an impact fund with the goal of reducing global greenhouse gas emissions, in accordance with article 9 of the EU Sustainable Finance Disclosure Regulation (SFDR). It will invest some €1.5 billion in strategic hydrogen projects in line with the energy transition goals. These investments will enable the development of upstream projects such as hydrogen production infrastructure, and downstream projects such as captive vehicle fleets and hydrogen distribution stations.
CACEIS’ Private Equity Real Estate Solutions (PERES) business line provides support to investment management companies that are increasingly including their custodial services providers in their ESG policy. In a demanding and constantly changing environment, CACEIS aims to fulfil its role as a trusted third-party provider by working to the ethical standards of its clients and creating sustainable value. EcoVadis, the rating platform for corporate, social and environmental policies ranks CACEIS in the Platinum category, giving it a place among the top 1% of companies in the financial services sector.
Laurent Fayollas, CEO of Hy24, stated "We have had a strong trust-based relationship with CACEIS’ PERES team for several years and have been very satisfied with the quality of services we have received. With the launch of the Clean H2 Infra Fund SLP, we are delighted to be extending our relationship with CACEIS, a group that acts in a socially responsible manner for its clients."
Arnaud Garel-Galais, Global Head of PERES at CACEIS added “CACEIS is a benchmark European depository and asset servicer, which fully supports investment management companies, such as Ardian and FiveT Hydrogen, that have a strong commitment to ESG.”
CACEIS is the asset servicing banking group of Crédit Agricole and Santander dedicated to asset managers, insurance companies, pension funds, banks, private equity and real estate funds, brokers and corporate clients. Through offices across Europe, North and South America, and Asia, CACEIS offers a broad range of services covering execution, clearing, forex, securities lending, custody, depositary and fund administration, fund distribution support, middle office outsourcing and issuer services. With assets under custody of €4.2 trillion and assets under administration of €2.2 trillion, CACEIS is a European leader in asset servicing and one of the major players worldwide (figures as of 31 December 2020).
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