cities | January 9, 2020

French social housing fund Immobilier Impact Investing tops €100m with second close

Amy Cortese
ImpactAlpha Editor

Amy Cortese

ImpactAlpha, Jan. 9 – The fund, launched by Cedrus & Partners and Swiss Life Asset Managers in April 2019, aims to re-house up to 2,000 people facing difficulties over the next ten years via partners Samu social de Paris and Habitat et Humanisme.

The fund takes a “two pocket” approach to offset what it says are declining donations and public subsidies for social housing. Twenty percent of assets go to acquiring residential properties that are provided to its nonprofit housing partners at zero-rent, and 80% is invested in yield-producing office assets and senior and student residences, which combine for a target return of 3.5%.

Immobilier Impact Investing is also supported by the French government and the Ministry of Ecological and Inclusive Transition.