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Catella raises €280m for CER III, passes €1bn milestone

The €6.5bn asset manager has hit the €1bn milestone for its flagship open-ended residential vehicle.

  • Fund name: Catella European Residential III Fund (open-ended)
  • Launch date: March 2019
  • Stage of fundraising: Undefined
  • Target size: €1bn
  • Size: €1.03bn
  • Time on the road: Three years and one month

Catella European Residential III Fund (CER III), the first pan-European ‘dark-green’ ESG impact fund for residential real estate, has raised around €280 million in its latest round of fundraising, according to a press release from the firm.

This influx of committed capital from seven German and Dutch institutional investors takes the total size of the fund past €1 billion.

CER III, which is managed by Berlin-based Catella Residential Investment Management (CRIM), itself a subsidiary of the Stockholm-based Catella AB Group, has a diversified portfolio of investments in seven European countries including The Netherlands, France, the UK and Spain.

As part of the Fund’s ESG focus, it will target investment towards the reduction of greenhouse gas emissions and has sustainable societal objectives in its investments. CER III has also integrated a penalty clause into its management agreement whereby CRIM will donate part of its recurring management fee should the manager fail to meet the financial, environmental, or societal objectives set for the fund.