Organizational Set Up

The European Energy Efficiency Fund, SA, SICAV-SIF (“eeef”, the “Fund”) is an alternative investment company with variable capital (société d’investissement à capital variable), governed by the laws of the Grand-Duchy of Luxembourg and incorporated in the form of a public limited liability company (société anonyme), with registered office at 31 Z.A. Bourmicht, L-8070 Bertrange, Grand Duchy of Luxembourg, being registered with the Luxembourg Register of Commerce and Companies under number B 162036. It is registered with the Commission de Surveillance du Secteur Financier (the “CSSF”) as a specialized investment fund (fonds d’investissement spécialisé) in accordance with the Luxembourg law of 13 February 2007 relating to specialized investment funds, as amended.

In accordance with the Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on alternative investment fund managers, as amended from time to time (“AIFMD”), the European Commission delegated and implementing regulations supplementing and implementing the AIFMD, as amended from time to time and the Luxembourg law of 12 July 2013 on alternative investment fund managers (the “AIFM Law”), the Fund has appointed DWS Investment S.A. to act as its external alternative investment fund manager (the “AIFM”).

DWS Investment S.A. is a public limited liability company (société anonyme), governed by the laws of the Grand-Duchy of Luxembourg, with registered office at 2, Boulevard Konrad Adenauer, L-1115 Luxembourg, Grand-Duchy of Luxembourg, being registered with the Luxembourg Register of Commerce and Companies under number B 25754. It is duly authorised and supervised by the CSSF to act as alternative investment fund manager, in accordance with the provisions of the Luxembourg law of 17 December 2010 and Chapter 2 of the AIFM Law.

The AIFM is acting as the Fund’s alternative investment fund manager in accordance with the applicable laws and regulations and shall be responsible for ensuring compliance with such laws and regulations.

Investors backing the fund

The European Commission is one of the main institutions of the European Union. It represents and upholds the interests of the European Union as a whole, drafts proposals for new European laws and manages the day-to-day business of implementing European Union policies and spending certain European Union funds. Promoting sustainable economic and social reform in Europe is at the heart of the Commission’s political agenda. The general European Union energy and climate goals have been formalized by the European Commission into the Energy Union strategy and further developed in the 2030 Framework for Climate and Energy, with the Clean Energy For All Europeans package of 2016.

The Council of Ministers and the European Parliament agreed in December 2010 to a European Commission proposal, made the same year in May, to allocate approximately EUR 146 million from the European Energy Programme for Recovery (i.e. 3.7% of the total EEPR envelope) towards a new financial facility dedicated to sustainable energy. Thereof EUR 125 million are placed as risk capital into the Fund to leverage public and private funding and about EUR 21 million to TA and awareness raising activities.

The EU contribution comes from funds mobilised for the EEPR in 2009 which could not immediately be allocated to projects in the sectors of infrastructure, off-shore wind and carbon capture and storage.

The Deutsche Bundesstiftung Umwelt (DBU) was established in 1990 as a foundation under private law on the basis of an act of the German Bundestag. Its mission is to promote innovative, exemplary and solution-oriented projects for the protection of the environment, with particular emphasis on small and medium-sized enterprises. The central themes of the foundation are climate change, the loss of biodiversity, the unsustainable use of resources and harmful emissions. The DBU is regarded as the largest environmental foundation in Europe and its funding themes are linked to the “Sustainable Development Goals” (SDGs) adopted by the UN.

WEPLA Beteiligungsgesellschaft mbH is an investment company holding investments in funds that are managed by DWS Group GmbH & Co. KGaA (DWS). DWS Group is one of the world’s leading asset managers with 860 billion euros (as at 30 September 2023). Building on more than 60 years of experience and a reputation for excellence in Germany and across Europe, DWS has come to be recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

Fenice 190 initiative was established by the Generali Group in 2021 to support sustainable economic growth in Europe. The Fenice 190 Fund is implemented through the Generali Investments ecosystem of asset management companies. With about €506.8 billion in assets (as at September 30, 2023) and over 1,200 investment professionals, Generali Investments is an ecosystem of asset management firms operating in multiple countries, delivering a portfolio of specialist capabilities.

Fund share’s structure

The European Energy Efficiency Fund (eeef) is a public-private partnership open to investments from institutional investors, professional investors and other well informed investors within the meaning of the Luxembourg SIF law. In particular targeted investors are donor agencies, governments, international financial institutions, and professional private investors.

eeef aims to provide commercial returns to its investors. The returns of its shares follow a waterfall principle and allow investments into three different categories:

C-Shares bear the highest risk (“First Loss”) and serve as a risk buffer for the more senior share categories.

A-Shares are the senior class shares. Depending on the Fund’s profitability, complementary dividends are possible.

In addition, Notes may be issued in the future. They rank senior to shareholders, but junior to all other creditors of the Fund.