Kramer Levin Advises Acofi Gestion in the Creation of “PME Emplois Durables” Fund

Major French institutional investors, AG2R LA MONDIALE and KLESIA, have created a fund dedicated to financing job development and creation by SMEs. The two groups contributed €100M each. The “PME Emplois Durables” fund aims to attract long-term funding for companies creating permanent jobs, with a SRI (Socially Responsible Investment) approach.

The “PME Emplois Durables” fund offers several financing schemes (equity or debts) to various types of companies (SME, mid-cap businesses, listed or unlisted). Focused on “made in France”, the “PME Emplois Durables” fund will finance and invest mostly in French companies or companies producing mainly in France, based on qualitative criteria such as the capacity to create jobs and contribution to research and innovation.

The “PME Emplois Durables” fund was structured as a mutual fund (SICAV) at the end of Dec. 2015. It will be managed by ACOFI Gestion, an asset management company authorized by the French regulator Autorité des Marchés Financiers, an affiliate of Groupe La Française.

The Kramer Levin team was led by partners Hubert de Vauplane and Dana M. Anagnostou, and associate Valentine Baudouin.