Paris, 9 September 2025 – The French institutional investors behind the market-wide « Objectif Biodiversité » Initiative, launched in 2024 with Af2i – Abeille Assurances (Aéma Groupe), BNP Paribas Cardif, BPCE Assurances, Caisse des Dépôts, CNP Assurances, EDF Gestion, MAIF, MACIF (Aéma Groupe), Malakoff Humanis, Société Générale Assurances, Crédit Agricole Assurances, AXA, Allianz France, AÉSIO mutuelle (Aéma Groupe), PRO BTP and CARAC – now joined by the Caisse Générale de Prévoyance des Caisses d’Épargne (CGP), announce the selection of the manager for the private equity fund.
The investors have chosen Starquest-Montefiore following a request for proposals (RFP) process supported by Jasmin Capital and I Care by BearingPoint.
To build the fund’s portfolio, Starquest-Montefiore will primarily invest in private European and French companies active in the preservation and restoration of ecosystems, through venture capital, growth capital, and buyout operations. The fund will target an initial size of €150 million at launch, with an initial investment horizon of 10 years.
This is the second fund launched under the « Objectif Biodiversité » Initiative, which aims to establish a robust and innovative investment framework around biodiversity challenges.
This initiative is also supported by AFG, IFD, France Invest and France Assureurs.
The investors commend the quality of the 17 proposals received during the selection process. Following oral presentations with the shortlisted candidates, the investors selected Starquest-Montefiore.
The joint proposal from Starquest-Montefiore is based on several strengths, combining:
- An operational and structured approach, focused on field actors and MRV (« Measurement, Reporting and Verification ») solutions, built on robust methodological principles to ensure data reliability and indicator relevance. Technological tools (eDNA – environmental DNA, satellite data, geospatial intelligence) and their partner Darwin Data – a digital platform enabling automated KPI assessment and monitoring, as well as reporting generation – are leveraged to ensure rigorous and transparent biodiversity impact management.
- Clear methodological choices aligned with investor expectations, with precise targeting of action levers, robust investment processes, and integration of biodiversity objectives defined under IPBES pressure constraints.
- A deep understanding of issues and expectations, demonstrating the ability of this experienced team to combine long-term ambition with operational feasibility.
The management company was selected with the support of the Scientific Committee, which, as is the case for the listed fund, will advise investors throughout the fund monitoring process.
Since the launch of the initiative, investors have relied on a scientific approach. The researchers and experts in biodiversity and sustainable finance on this committee will ensure progress toward the fund’s objectives; they will guide investors on impact indicators and help assess the portfolio’s « Biodiversity » performance.
This committee includes: Romain Julliard, professor at the Muséum national d’histoire naturelle in Paris; Matthieu Delabie, thematic coordinator « Finance, instruments économiques » at the Office français de la biodiversité; Guillaume Wahl, sustainable finance expert at WWF France; Alexandre Garel, researcher and finance lecturer at Audencia Business School; Julie Raynaud, independent researcher and associate expert at the Institut Louis Bachelier.
The fund is open to any investor wishing to join the initiative « Objectif Biodiversité ».
