Epico: capitalising on know-how
Modern infrastructure is important not only for our region's economy and our country's competitiveness, but also for the climate.
After successfully investing out a first infrastructure fund PMF, PMV joined hands with Dutch RebelGroup in early 2017 to establish a new fund: Epico. Today, that infrastructure investment fund has committed almost all its committed funds to concrete projects and investments: a success. To further capitalise on the expertise gained, a third fund is in the pipeline.
Epico invests in the construction and operational phases of public-private partnership (PPP), renewable energy and other infrastructure projects in the Benelux or elsewhere in Europe. Today, Epico is as good as fully invested. Management looks back with satisfaction at the successes achieved. The fund was preferred bidder for the R4WO motorway PPP project and was the only consortium selected for all school building clusters. Of the 3 projects where a preferred bidder was already designated, it was twice among the winning group. In France, Epico was awarded the Port-la-Nouvelle (France) port project in a combination with Deme and Euroports. Financial close was reached for that project in September 2021.
The fact that the fund also invests in Flemish infrastructure projects is important. Modern infrastructure is crucial not only for our region’s economy and our country’s competitiveness, but also for the climate. The ‘All Weather Terminal’ (AWT), for example, a joint investment by PMV and Epico, is a covered loading quay that increases the shipping capacity of ArcelorMittal Belgium’s finished steel coils, saving up to 25,000 truck journeys a year: a substantial investment in more sustainable logistics. This investment would not have been possible without the fund (and therefore without foreign projects in which the fund invests).
PMV wants to continue using our infrastructure expertise in the best possible way for the benefit of institutional investors who want to invest in socially relevant infrastructure projects. This is why a third fund has been under construction since last year. The need for infrastructure investments remains high and access to capital remains crucial. PMV has the know-how to structure projects in such a way that they are attractive to institutional investors. With a new fund, PMV wants to offer that know-how to investors looking for returns. The new fund will invest mainly in projects that focus on the energy transition, the digital transition and sustainable mobility: a focus that is important for our region.