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Sign in Sign up for a FREE subscriptionCOIMA’s ESG City Impact Fund raises €400m to aid in COVID-19 recovery
COIMA's ESG City Impact Fund has locked in €400 million ($451 million) in equity commitments from cornerstone investors, the Italian investor announced July 7.
The investor base included Italian institutional investors Cassa Forense, a pension fund for lawyers; Inarcassa, a pension fund for architects; and Cassa Commercialisti, a pension fund for chartered accountants.
COIMA’s fund currently has a total investment capacity of more than €1 billion ($1.1 billion), including co-investments, partnership and financial leverage. The vehicle is targeting further equity raises up to €1 billion ($1.1 billion), to create a total investment capacity of more than €4 billion ($4.5 billion).
As the first urban regeneration ESG fund to be launched in Italy, the fund is planning to acquire regeneration opportunities across Italy, using a develop-to-core strategy to deliver projects across a range of sectors, such as residential and hospitality. The initial pipeline in