SocGen and Brookfield to launch private debt fund

PARIS (Reuters) – French lender Societe Generale (OTC:) and asset manager Brookfield Corp plan to launch a private debt fund targeting total volume of 10 billion euros ($10.73 billion) over the next four years, they announced on Monday.

Initial seed funding, which will be directed towards the power, transportation and finance sectors among others, amounts to 2.5 billion euros, the companies said.

The fund “will have a positive impact on the real economy”, SocGen Chief Executive Slawomir Krupa said in a press release.

($1 = 0.9319 euros)