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IQ-EQ France supports Allianz Global Investors with €256m debt fund to finance regional railway development

18 Dec 2023

IQ-EQ France is delighted to be supporting Allianz Global Investors as the management company for its €256 million debt fund, created to specifically finance the French rail company SPL Grand Est Mobilités in the development of railway services across the Grand Est region.

Part of the Allianz financial services group, Allianz Global Investors (AllianzGI) is a global investment management firm with €516 billion in assets under management (as of Q3 2023). Having been a highly valued client of our Luxembourg, Netherlands and Ireland businesses since 2019, AllianzGI has now appointed IQ-EQ France to support this latest transaction, thanks to our uniquely comprehensive service offering in the jurisdiction.

Under the EU’s Alternative Investment Fund Manager Directive (AIFMD), IQ-EQ is acting as third-party AIFM for the fonds commun de titrisation (FCT) securitisation vehicle that is providing the financing. In addition, the client has been able to avail of our loan granting licence, which enables a fund to act among a pool of banks. IQ EQ Management, our French AIFM business, is notably one of the few management companies in France that holds this licence.

As outlined in AllianzGI’s own announcement, the expansion of a high-quality regional railroad network in France is key to the reduction of greenhouse gas emissions by providing an alternative to car travel. AllianzGI acted as the sole institutional investor in the financing of SPL Grand Est Mobilités, providing €256 million to cover the refurbishment and transfer of around 200 regional express trains to the Grand Est region. This, in turn, will provide a blueprint for other regions to follow suit and replicate the contractual framework.

Hugo Lavayssière, Head of Securitisation in the Fund Management team of IQ-EQ France, commented:

“We’re very grateful for the opportunity to support AllianzGI in this hugely worthwhile transaction, which promises to have a tangible positive impact on France’s regional railway network both in Grand Est and beyond. IQ-EQ is proud to assist AllianzGI in its continuing commitment to French infrastructure projects, and I’d like to take this opportunity to thank the AllianzGI team for their trust and commitment. I look forward to our continued collaboration and achieving more great milestones together along the way.”

Working with IQ-EQ has been seamless – you and your team understand our business, advise us appropriately, and handle your side of our collective partnership so that we can focus on making good investment decisions. Evan Gibson SVP, Merchants Capital

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