Norwegian-German alliance commits EUR 270m to Catella fund

The commitment made by KLP and a group of investors based in Germany follows the relaunch of the fund as the first pan-Europe Article 9 classified residential impact fund.

Photo: KLP

Norwegian pension fund KLP and a group of eight German pension funds and investors have committed EUR 270m in investments to The Catella Residential III Fund (CER III), according to a press statement by Catella Residential Investment Management, which is a Berlin-based real estate subsidiary of Swedish financial firm Catella .

The fund was transitioned from a "light green" real estate fund to a "dark green" Article 9 classified fund, the first residential property impact fund of this kind, during the first quarter of 2021.

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