BNP Paribas REIM secures €300m for European Impact Property Fund

BNP Paribas Real Estate Investment Management (BNP Paribas REIM) has raised €300 million ($346 million) in equity capital commitments for its open-ended European Impact Property Fund (EIPF).

The fund’s investor base includes Dutch Insurance company a.s.r. W, which committed €100 million ($115 million) as a cornerstone investor, as well as BNP Paribas Cardif, alongside other French, Italian and Finnish institutional investors.

“As an investor, a.s.r. believes it is important to play a meaningful role in making society more sustainable with its investments,” said Dick Gort, CEO of a.s.r. real estate. “BNP Paribas REIM and a.s.r. shared the idea of launching a core real estate fund that focuses on having a quantifiable impact on the climate. We welcomed the opportunity to work with them to create the fund.”

EIPF is aiming to be the first core European diversified fund compliant with the 2015 Paris Agreement, in line with the International Energy Agenc