PATRIZIA has launched a £75 million ($99 million) fundraise for ESG-linked capex projects in its flagship U.K. open-ended core fund, PATRIZIA Hanover Property Unit Trust.
Established in 1967, Hanover is one of the United Kingdom’s oldest open-ended property funds, with more than £500 million ($660 million) of assets under management. PATRIZIA said its flexible strategy and evolving portfolio mix has enabled it to consistently outperform market cycles and deliver sustainable income and recurring capital growth for investors through active asset management.
The fund has committed to slashing greenhouse gasses across the portfolio, which has already achieved net-zero carbon (Scope 1 & 2 emissions).
The new capital raised will be allocated across several major projects at some of the fund’s flagship assets, including a planned carbon-negative industrial park in Buckinghamshire; the refurbishment and extension of a 55,000-square-foot office property within
