Inarcassa approves €60m commitment

The Italian public pension has backed an ESG-focused private real estate fund.

Institution: Inarcassa
Headquarters: Rome, Italy
AUM: €11.54 billion
Allocation to alternatives: 13.37%

Inarcassa has confirmed a €60 million commitment to COIMA ESG City Impact Fund, a contact at the pension informed PERE. The vehicle is managed by the Italian private real estate manager COIMA SGR.

COIMA ESG City Impact Fund is the first urban regeneration property fund to be launched in Italy. The vehicle is targeting investments across a range of sectors in the main Italian cities, with a particular focus on residential and hospitality property regeneration to aid economic development.

As illustrated below, this is Inarcassa’s first known commitment to a commingled private real estate fund. The pension previously committed to a diversified core separate account managed by LaSalle Investment Management.

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