Phoenix Group partners with Encevo to support financing of critical infrastructure

Written by Adam Cadle

01/08/2025

Phoenix Group has announced its participation as a lead lender in the recent €200m senior unsecured notes issuance by Encevo, a leading and sustainable energy player in Luxembourg and the Greater Region.

Phoenix contributed €120m to the transaction, supporting Encevo's growth strategy and underscoring its commitment to backing robust businesses in the energy sector.

Phoenix has been enhancing its direct origination and execution platform in private debt with 75% of executed transactions directly sourced, and £1.5bn directly executed in the last two years. H1 2025 has seen this trend accelerated with close to £800m directly originated and executed, representing more than 90% of Phoenix’s private credit allocation year to date.

Cedric Rozier, head of private credit at Phoenix Group, said: "Our €120m commitment to this transaction reflects our confidence in Encevo's resilient business model, experienced management team, and strategic vision. Encevo's position as a defensive asset with a high proportion of earnings derived from regulated networks, aligns perfectly with our strategy of supporting well-managed companies with strong market positions and stable cash flows."

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