To continue investing, the fund created by the mineral social partners must reinvent itself: with the mineral retirement fund or with the new shareholders?
The future of investing for jobs is emerging these days. The investment fund, set up in 2015 by social partners in metalworking and technology to support profitable business ventures and job creation, has already reached a turning point in its existence. And the evidence is Its manager Mark Bolland decided to leave And that, pending the appointment of a new president, the fund’s board of directors appointed Christophe Pickard as an interim investment manager.
Two months ago, Invest for Jobs announced It no longer accepts any new files. After considering that the fund had achieved its objectives by showing that it was possible to combine results and functions, the founders of the fund decided, to everyone’s surprise, to put it up. Not in clearance, but inactive: He will now be satisfied with managing his wallet, with one last “buffer” at his disposal to do Follow up on investments In her holdings.
We said: “To everyone’s surprise,” because when it was created six years ago, his parents – unions and employers – decreed that he would work For 30 years And that he will have 100 million euros in capital. And because its capital has only been released so far, 27 million … Here it is only, Meanwhile, we learned from informed sources that there are two scenarios on the table. In order to keep the fund as an active investor.
What’s happened, To explain this gap between the two strategic visions? Initially, the shareholders decided they didn’t want to They no longer run together Such a fund, hence the decision last March. The action could have been caused by the malaise that emerged after the management team left, a few months earlier, by two investment professionals, which could have been amplified while discussing one of the Fund’s recent investment files. Second, some social partners are their shareholders She regrets that the adventure could not continue. This disappointment led to new thinking: Two tracks were launched To further develop the fund.
The first lead leads to a founding shareholder, the Metal Retirement Fund.
The first leads to one of the founding shareholders, Metal Retirement Fund. The idea would be to adosser invest for jobs (IFJ) for a retirement fund. The latter manages a group of listed Belgian companies and can add an “unlisted” component, which will be formed by the International Federation of Journalists.
The second path will go to Bring in one or more new contributors In Invest for Jobs, which in this case will remain the only investment tool. The first track will be special for the time being, we were told to a good source. It also appears to be easier to implement quickly.
“I’m not interested in the idea of running the run-off. That’s why our tracks are split today.”
Whichever option is ultimately chosen, it will be done without Mark Poland, as we also learned from internal sources. What or what The future former director confirms himself. “Over the past two years, Invest for Jobs has seen rather impressive growth, he explains. We went from 8 to 43 million euros in investments. In this context, the board wanted to review the fund’s development strategy. So we’re in the repetition phase, it’s time.” “To reposition it, perhaps by making it complementary to the Minerals Pension Fund strategy. Personally, I am not interested in the idea of running a run-off. That is why our paths are separated today. Through a friendly and respectful settlement.”
There is no hacking investment project
We will understand, and Mark Boland gives More opportunities in the first scenario, While also acknowledging the existence of a second.
Invest for jobs right now Just over twenty wallet holsters. Make its activity possible Consolidation or preservation of 3,000 direct and indirect jobs And 203 establishments (plus 342 full-time construction in the process). The last investment announced was related to the Liège foundry Marechal Kitten, Specialized in manufacturing rolls for rolling mills. The fund has already committed Advanced negotiations with another company Industrial zone, whatever happens, we are told, that’s a project too To achieve As part of the transitional “buffer” mentioned above.
We will then see if one of the two paths studied is successful, and then whether the procedure will be initiated quickly. Find a successor to Mark Boland On top of the new chassis. In any case, it would be a shame if this shared structure, which has existed to this day, would disappear from the entrepreneurship landscape. unique In our latitudes.
- The Social Partners Fund for Minerals and Technology in Jobs Investments announced in March that it would stop making new investments.
- Since then, some of its founders have expressed a desire to continue and developed two scenarios for the future: with the Mineral Retirement Fund or with the new shareholders.
- Director Mark Bolland is leaving because he does not want to run the current “running”.
- Whatever happens, the investments that are negotiated will be honored and an interim manager appointed.