Rivage PRINCE Private Infrastructure Credit Europe

The fund invests in long-term infrastructure projects and companies that are essential to the development and resilience of the real economy. It offers investors exposure to an asset class historically reserved for institutional investors, with a view to diversifying their portfolios

An investment solution available until 12/31/2026

-> French fund open for subscription from €100,000
-> Eligibility under Luxembourg life insurance policies and securities accounts

A wealth management investment strategy

-> Target annualised net return of 7%2
-> Moderate risk profile (SRI3 de 3 sur 7)
-> Funded assets generating regular income
-> Risk of capital loss

Exposure to strategic real assets

-> Investments in loans or bonds related to essential infrastructure
-> Support for European economic sovereignty
-> A resilient asset class1, with historically low volatility and low correlation to financial markets

A building block of diversification in an investment portfolio

-> A diversified portfolio with exposure to the mid-market4—primarily in Europe—which offers opportunities and drives value creation
-> Generation of recurring, contractually guaranteed cash flows

1 – Assessment based on the management company’s analysis and historical data; does not prejudge future market conditions
2 – Target average annual return for Class A1, net of fees, before taking into account the investor’s own tax liability, over a recommended investment horizon of 7 years; an estimate of future performance based on current conditions, which is not an exact indicator; your actual returns will depend on market developments
3 – SRI: Synthetic Risk Indicator within the meaning of Delegated Regulation (EU) 2017/653, 4 – mid-market: refers to medium-sized companies

Non-exhaustive list of shares
Last NAV (03/31/2026)
1033.03 €
Initial nominal value (02/05/2025)
1000.00 €
ISIN code
FR001400QNK7
Sales brochure
KID

Performance scenarios

This table shows the amounts you could receive over seven (7) years (the recommended investment period), based on various scenarios, assuming you invest EUR 100,000 (the minimum subscription amount permitted for the relevant unit). The various scenarios illustrate how your investment might perform. You can compare them with the scenarios for other products. The scenarios presented are an estimate of future performance based on historical data relating to changes in the value of this investment. They do not constitute an exact indicator. The figures shown below include all costs (including VAT) relating to the Fund itself (estimated on the basis of total assets under management of €100 million), but do not necessarily include all fees payable to your adviser or distributor. Nor do these figures take into account your personal tax situation, which may also affect the amounts you receive. What you receive will depend on market performance and the length of time you hold the investment or product. The stress scenario shows what you might receive in extreme market situations, and does not take into account the possibility that we might be unable to pay you. It is not possible to exit this product except in very limited circumstances described in the Articles of Association. Consequently, it is difficult to estimate what amount you would receive if you were to exit before the recommended holding period. You may not be able to exit the product before maturity, or you (or a beneficiary) may incur significant losses or costs in such a case.


Performance scenarios not available for this period and for this share class.

Term sheet

Structure
Specialised Professional Fund (FPS), in the form of a limited partnership (‘SLP’)
Fund term
5 years (extendable by 2 x 1 year) from the end of the 2-year subscription period
Target market
Institutional and private investors
Management company
Rivage Investment SAS
SFDR
Article 8⁴
Depositary
BNP Paribas
Currency
EUR
Initial nominal value
1000.00 €
Minimum subscription
EUR 100,000 (professional investors or equivalent)
Capital calls
By direct debit, with a target of a maximum of two calls for funds per year
Target annual net performance
7% pour la part A1⁵
Target annual coupon
~4.5% / Semi-annual distribution, including during the subscription period
Valuation
Quarterly
Closing date
12/31/2026
Entry and exit fees
Entry: distributor maximum 5%. Exit: none
ISIN code
FR001400QNK7
Management fees (including all applicable taxes)
2% per year of the amount invested
Performance fees (including all applicable taxes)
10% of returns above a 5% net IRR for the investor
Redemptions and unit transfers
Redemptions permitted only in the event of the unitholder’s death / Transfers permitted subject to completion and approval of know‑your‑customer (KYC) due diligence on the new subscriber

4 – funds promoting, amongst other characteristics, environmental or social criteria and good governance, within the meaning of Article 8 of Regulation (EU) 2019/2088
5 – target average annual return for Class A1, net of fees, before taking into account the investor’s own tax liability, over a recommended investment horizon of 7 years; an estimate of future performance based on current conditions, which is not an exact indicator; your actual returns will depend on market developments

For more information, please contact:

Philippe Cormon
Head of wholesale distribution
 philippe.cormon@rivageinvestment.com
 +33 6 27 41 35 30

Nicolas Lorrain
Investor relationships
  nicolas.lorrain@rivageinvestment.com
 +33 6 46 03 04 06

Charles-Owen Jung
Investor relationships
  charles-owen.jung@rivageinvestment.com
 +33 6 16 41 66 05

Key Fund risks (non-exhaustive list):

• Risk of capital loss: there is no capital guarantee; the investor may lose all or part of their investment, particularly in the event of default.
• Risk associated with the absence of a guarantee of distributions: the Fund may generate no income and make no distributions, either during its lifetime or upon liquidation.
• Credit and debt risk relating to Debtors: default, restructuring or high levels of debt on the part of Debtors may result in losses and a decline in the value of the Claims.
• Liquidity risk relating to Units: the absence of an organised secondary market and statutory restrictions which may prevent any sale prior to the Fund’s maturity.
• Asset illiquidity risk: Receivables and infrastructure assets that are difficult to sell, with sales possibly taking place at a late stage or at a discount.
• Interest rate risk: changes in interest rates that may affect the return, the value of the Debt Securities and the level of distributions.
• Political and regulatory risks: legal, tax or prudential developments that may adversely affect the Fund, its investments and the Units.
• Infrastructure-related risks: exposure to operational, economic, regulatory, environmental, climatic and sovereign risks specific to infrastructure assets.
• Discretionary management risk: total reliance on the decisions of the Management Company, with no possibility of intervention by investors.
• Risk associated with the Fund’s leverage: the use of borrowing may amplify losses and impair the Fund’s overall performance.
• Risk associated with the Fund’s lack of track record: A recently established Fund with no historical performance record, relying exclusively on the expertise of the
Management Company.
• Economic and market risk: a deterioration in economic conditions that could affect the value of the Receivables and the Debtors’ ability to repay.
• Legal, regulatory and tax risks: regulatory changes that may alter the structure, valuation or tax treatment of the Fund and its investments.
• Concentration risk: limited sectoral or geographical diversification, which may amplify the impact of a default on overall performance.
• Risk associated with co-investments: co-investments with Related Funds that may give rise to conflicts of interest.
• Third-party service provider risk: failure, error or fraud on the part of a service provider that may affect the safekeeping, valuation or administration of assets.
• Currency risk: residual exposure to currencies which may affect the value of the assets and the Fund’s performance.
• Counterparty risk: default by a financial counterparty which may lead to a reduction in the value of the Fund’s assets.
• Sustainability (ESG) risks: ESG events or constraints which may have an adverse impact on the Fund’s performance.