Amundi has received a new commitment to its emerging-markets specialist credit vehicle Green Cornerstone Bond Fund.
The vehicle is targeting to raise $2 billion.
The European Investment Bank is committing $100 million to the vehicle.
The International Finance Corporation (IFC) is a cornerstone investor in the fund. IFC committed $325 million to the Green Cornerstone Bond Fund.
The IFC created the fund, and then selected Amundi to manage it.
The Green Cornerstone Bond Fund will invest in green bonds issued by banks in Africa, Asia, Middle East, Latin America, Eastern Europe and Central Asia. The fund is expected to be fully invested by 2024. IFC will insure the bonds with first-loss coverage.
Xavier Musca [pictured] is chairman at Amundi.
Amundi had over €1.4 trillion in assets under management, as of December 2017.