COIMA ESG City Impact Fund surpasses €500m

COIMA has raised €521 million ($525 million) for its COIMA ESG City Impact Fund (CECI), advancing closer to its target of more than €1 billion ($1 billion).

Launched in 2020, the ESG City Impact Fund was designed to generate positive social and environmental impact with a focus on the sustainable reuse of existing buildings and urban regeneration.

Investments came from the ENPAM Foundation, as well as a range of other primary institutional investors, including Cassa Forense, Cassa Dottori Accountisti, Inarcassa, BCC Credito Cooperativo, CARIPARO Foundation, Compagnia di San Paolo and COIMA SGR itself.

COIMA said it is aiming to raise more than €600 million ($605 million) by the end of 2022.

“Exceeding €500 million in capital committed by primary national institutional investors is an important milestone for the COIMA ESG City Impact Fund,” said Manfredi Catella, CEO of COIMA. “This will ensure the fund can deliver on its mission of generatin