ImpactAlpha, July 25 – Franklin Templeton believes access to social services are essential to economic growth. In Europe, the firm doesn’t believe enough is being done to build and maintain the facilities that house those services.
The $700 billion asset management firm launched an open-ended fund last year to acquire properties where justice, education and healthcare are provided. It has raised more than €150 million ($167 million) for the fund and made six investments, including a German university complex, a Swedish school, Italian and Danish hospitals, and health center and nursing home facilities in the U.K.
Terms of the deal were not disclosed, but the new acquisitions bring the total Social Infrastructure Fund portfolio to nine.
The company told IPE Real Asssets that it has a pipeline of €500 million.