13 October 2021 | 3 min.

BNP Paribas REIM announces additional equity commitments for European Impact Property Fund

The fund, backed by the Dutch insurance company a.s.r. at its first close, has reached already EUR 300mn of equity capital commitments

BNP Paribas Real Estate Investment Management (BNP Paribas REIM) has announced that its recently launched “European Impact Property Fund” (“EIPF”) has reached EUR 300mn of equity capital commitments. That includes EUR 100mn from the Dutch Insurance company a.s.r. which committed as the fund cornerstone investor at the launch of EIPF. The insurer BNP Paribas Cardif, a subsidiary of BNP Paribas, also has committed equity to the fund as part of its strategy to accelerate its investments with a positive impact, alongside other French, Italian and Finnish institutional investors.

EIPF sets an ambitious target to be the first Core European Diversified Fund compliant with the 2015 Paris Agreement in line with the International Energy Agency (IEA) trajectory and to deliver a positive and measurable climate impact. EIPF qualifies as article 9 of SFDR. The climate strategy will be implemented thanks to a combination of CAPEX, OPEX and strong stakeholders’ engagements. The fund has also put in place a detailed climate reporting system to quantify the fund’s positive impact on assets and to measure the success of reducing GhG emissions and contribution to the low carbon transition.

Structured as a Core European Diversified Open-Ended Fund, EIPF has already secured transactions in France, Italy, the Netherlands and Germany in diverse sectors such as residential, logistics, alternatives and offices. The fund, which has already begun making income distributions, is currently progressing on further investment opportunities in 4 different countries (including 2 new ones).

“As an investor a.s.r. believes it is important to play a meaningful role in making society more sustainable with its investments. BNP Paribas REIM and a.s.r. shared the idea of launching a Core real estate fund that focusses on having a quantifiable impact on the climate. We welcomed the opportunity to work with them to create the fund. We believe that EIPF can successfully combine both quality and sustainability in its portfolio,” comments Dick Gort, CEO a.s.r. real estate.

 “We are honoured to have the support of a.s.r. and the other institutional investors in EIPF. We are convinced that EIPF offers an innovative European real estate investment strategy for those investors seeking both stable income and the ability to have a measurable climate impact. It has been well received by pension funds and insurance companies from across Europe and, indeed, globally,” comments Henri Romnicianu, Global Head of Institutional Sales at BNP Paribas REIM.

EIPF is a SICAV-SIF based in Luxembourg. This Core Diversified Open-Ended fund, managed by BNP Paribas REIM Luxembourg, offers diversification within Europe across all sectors to long-term international institutional investors.