Catella has secured €200 million in capital commitments for its Catella European Residential III Fund.
The new commitments, which raise the capital in the fund to more than €1.2 billion, were secured from BNP Paribas REIM and a number of German institutional investors, mainly pension funds.
CER III is managed by Berlin-based Catella Residential Investment Management (CRIM) and has a diversified portfolio of investments encompassing around 30 residential properties in seven countries across Europe.
Michael Fink, Managing Director, CRIM, said: “At a time of elevated market uncertainty and volatility the need for ‘dual materiality,’ or the combined objectives of achieving climate mitigation and societal returns alongside financial targets is getting even more important in investments. CER III has a focus on the ‘decarbonization transition’ in its residential investments and we are also strongly targeting affordable rents. Catella’s ‘skin in the game,’ or alignment of interests between us and the investors through the fee structure of the Fund, also reinforces the third ESG pillar – the ‘G’ for governance.”
Casper van Grieken, Executive Director, CBRE Netherlands – Head of Capital Advisors, concluded: “The world is in a profound transition due to climate change, mounting geopolitical and economic risks and soaring energy costs, which are creating enormous challenges for societies, governments, and investors to manage. These are on top of the longstanding problems of Europe’s structural housing shortage, which is contributing to limited affordable rental accommodation supply. The latest successful EUR 200 million capital raise for the CER III fund, demonstrates its attraction for institutional investors with high ESG impact investing standards.”
