(Telestock) – CDP Real Asset confirms his commitment to investment both in the field of social infrastructure both in that of the green infrastructurethanks to the use of the “fund of funds” (FoF)which allows you to invest with a long-term time horizon and create a multiplicative effect of public-private financial resources.
The Board of Directors of the CDP Group’s SGR has resolved two new operations in favor of the student housing and the use of renewable energies: The FNAS – National Social Housing Fund will invest up to 30 million for the construction of 1,000 beds for students; FOF Infrastructure will employ up to 35 million for infrastructure projects aimed at the construction of photovoltaic plants for over 1 gigawatt, with a focus on the Italian market.
“The two operations approved today demonstrate the concrete Evolution of CDP Real Asset from a ‘real estate’ model to a “real asset” modelleveraging over a decade of experience in managing funds of funds, as well as specific skills in promoting projects with territorial value and impact”, says CEO Giancarlo Scotti.
More specifically, the company of the Cassa Depositi e Prestiti Group will do its part entry through the FNAS fund of funds into the Aristotle Student Fund – promoted and managed by Fabrica Real Estate SGR – for the activation of 6 construction sites aimed at the creation of 1,000 affordable bed spaces for out-of-town students (650 will be built in Rome and the remainder divided between Milan and Perugia). In a second phase, the program will be extended to further interventions mainly in the Center-South.
The number of beds thus rises to 6,600 for out-of-town students who, in less than two yearsCDP Real Asset has already committed to contribute to the realization through the FNAS, confirming the objective of reaching 10 thousand in three years. The Fund was born from the collaboration with some of the main pension funds Italian, which have identified some properties and resources in their assets to be allocated to the strategy of increasing the number of beds at sustainable rates for university students.
On the front of the green infrastructureCDP Real Asset enters in the capital of EOS Energy Fund IIpromoted by EOS Investment Management. The investment, made through the FOF Infrastructure for a value of up to 35 million euros, has the objective of finance in Italy infrastructure projects greenfieldaimed at the construction of photovoltaic systems for over 1 gigawatt, with a focus on the Italian market. EOS Energy Fund II invests, in particular, in medium-large photovoltaic parks (the so-called utility-scale), located mainly in Italy (with a focus on Lazio, Sicily and Sardinia), contributing to the production of electricity from renewable sources and promoting the transition towards the green economy. With the subscription by FOF Infrastrutture, EOS Energy Fund II surpasses €250 million fundraising target: the fund’s shareholders are mainly investors institutional private individuals, including provident funds, pension funds and insurance companies.
The investment in EOS Energy Fund II represents the fourth operation of the FOF Infrastructure to support the energy transition in Italy. Further investments are planned during the year, with the aim of employing over 50% of the capital raised by 2024 – also thanks to CDP Equity in its role as cornerstone investor and advisor.