€175M ($189M) first closing positions Eurazeo’s ESMI II fund near half of its €400M ($432M) target, highlighting strong institutional demand for maritime transition financing
Article 9 strategy channels capital into eco-efficient vessels, offshore renewables logistics and port infrastructure aligned with EU climate policy
Early deployment into two new low-emission vessels reflects accelerating investment pipelines tied to tightening maritime regulations
Asset-Based Finance Targets Maritime Decarbonisation Gap
Eurazeo has secured a €175 million ($189 million) first closing for its Eurazeo Sustainable Maritime Infrastructure II (ESMI II) fund, accelerating private capital deployment into the decarbonisation of Europe’s shipping and maritime infrastructure. The close exceeded the fund’s initial €125 million target and moves it closer to its €400 million ($432 million) final size, reinforcing investor appetite for climate-aligned asset-based financing strategies.
Launched in December 2025, ESMI II focuses on senior secured financing solutions for European small and mid-sized shipowners, a segment facing rising compliance costs as environmental regulations tighten across the region. The strategy targets marine transport, offshore renewable energy support vessels and port infrastructure upgrades built around next-generation efficiency standards.
Financing Pressure Builds As Regulations Tighten
European maritime operators are confronting significant capital demands tied to emissions rules, fuel transitions and fleet modernization. Traditional lenders have become more selective, particularly toward smaller operators navigating new environmental standards and volatile freight markets.
Guillaume Branco, Managing Director, Asset-Based Finance at Eurazeo, commented:
“Through ESMI II, Eurazeo intends to capitalise on the success of the first ESMI fund and continues to provide European maritime stakeholders with a tailor-made alternative financing solution, in a market with massive financing needs, partly driven by the environmental regulation and the lack of financing sources available, particularly for SMEs. This first closing reflects our ability to combine financial discipline with deep technological and sustainability expertise. The fund enables its investors to support the transition of the maritime sector while combining quality returns with a conservative risk profile.”
By focusing on senior secured, asset-backed structures, Eurazeo aims to reduce risk exposure while giving operators access to long-term capital required for vessel renewal and energy-transition upgrades. The fund is expected to support between 20 and 30 European shipowners and maritime stakeholders over its investment period.
Early Deals Highlight Deployment Momentum
Within six weeks of launch, ESMI II financed two newly built eco-friendly vessels for Dutch shipowner Longship Group B.V., an early sign of deal flow tied to the energy transition. Such assets typically incorporate advanced propulsion systems and fuel-efficiency technologies designed to reduce emissions intensity while improving operational economics.
The strategy builds on the earlier ESMI I vehicle, Eurazeo’s first Article 9 fund under the EU Sustainable Finance Disclosure Regulation. Maintaining Article 9 status places measurable climate impact at the centre of the investment thesis, with targets linked to emissions reduction, energy efficiency gains and enabling offshore renewable energy logistics.
Independent maritime investment advisor Elbe Financial Solutions supports the fund, strengthening technical evaluation and commercial due diligence capabilities as shipping technology evolves.
RELATED ARTICLE: Eurazeo’s Transition Infrastructure Fund Secures €706 Million, Exceeding Target by Over 40%
Institutional Capital Signals Confidence In Maritime Transition
The first closing drew backing from several European institutional investors, including the European Investment Fund, MAIF, SURAVENIR from Groupe Crédit Mutuel ARKEA, AG2R LA MONDIALE and L’Auxiliaire. The European Investment Fund’s continued participation as an anchor investor across both ESMI vehicles reflects growing policy alignment between EU financial instruments and private infrastructure capital.
For investors, maritime transition funds offer exposure to hard assets tied to energy infrastructure, offshore wind supply chains and decarbonisation mandates. Asset-based financing models can provide predictable cash flows while aligning with EU climate objectives, a combination increasingly attractive to insurers and pension funds seeking long-duration ESG investments.
What Executives And Investors Should Watch
Shipping remains one of the hardest sectors to decarbonise, with capital expenditure cycles stretching decades and regulatory timelines accelerating. Funds like ESMI II illustrate how private credit strategies are evolving to fill financing gaps left by traditional banks, particularly for small and mid-cap operators that underpin regional logistics networks.
As European climate policy pushes toward lower-carbon transport systems, investment vehicles that combine risk-controlled financing with measurable environmental outcomes are gaining traction. The expansion of Eurazeo’s maritime platform reflects a broader shift toward specialised transition funds designed to bridge the gap between policy ambition and real-economy implementation.
For C-suite leaders and investors, the trajectory is clear: access to capital is becoming increasingly linked to sustainability performance, and maritime infrastructure is emerging as a key battleground where climate policy, industrial competitiveness and long-term financing converge.
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