Catella European Residential III Fund reaches €750m

The Catella European Residential III Fund (CER III) has brought in more than €270 million ($315 million) in mandate commitments, bringing the fund’s total equity to €750 million ($876 million) since its initial launch two years ago.

The investors included Norway’s largest pension company KLP and a group of eight German pension funds and insurers.

Earlier this year, CER III transitioned from a “light green” real estate fund to the certified status of the first pan-European dark green EU SFDR “Article 9” residential property impact fund. Catella said the alignment of interests in CER III is achieved through incorporating a penalty clause into the management agreement, whereby CRIM will donate part of its recurring management fee to a relevant “impact-related” United Nations fund should the manager fail to meet the financial or societal targets set for the fund.

“CER III’s financial objective is to deliver stable, low-risk total investment r