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COIMA to Launch Three New Funds and Invest Up To €5bn

COIMA has said that it intends to launch three new thematic investment vehicles in the next 18 months, and plans to invest up to €5bn in urban regeneration projects over the coming five years.

  • COIMA will launch an evergreen fund with a focus on prime assets and a develop-to-core strategy, with an investment target of €2bn and a first close expected this year.
  • Its new Private Rented Sector (PRS) fund, investing in all residential subsectors including student housing and senior living, will have a target of €1bn with a first close in 2022.
  • COIMA Opportunity Fund III will have a value-add strategy operating across various asset classes, with a target of €500m and a first close also planned for 2022.

COIMA’s investment intentions have been announced alongside the establishment of a holding company to become the COIMA Group, and a new company – COIMA Human Technology (HT) – that will operate in the technological and digital field to support urban regeneration and digital transformation of physical spaces.

Manfredi Catella, founder and CEO of COIMA, said: “The decision of our founder shareholders to establish the COIMA Group after more than 40 years represents an important milestone in the corporate journey we began in 1974. We are proud to bring the many strands of our business together under one group that is well placed to contribute to the enhancement of the Italian territory as a strategic resource for economic development, to enable the targets outlined by the European Green Deal and to deliver the missions of the national recovery plan approved by the Italian Government. It is now crucial to work on projects and on the capacity of our companies to develop mutually beneficial public-private and market partnerships to speedily contribute to the country’s ambitions and compete on an international scale.”

Over the last five years, COIMA has raised approximately €1.8 billion from primary institutional investors, mostly direct and discretionary, 66 per cent of which are international. The aim for the next few years is to raise an additional €2bn.

In 2020, the Group reported overall stabilized assets under management of over €8bn – double the total in 2015 – with the aim of reaching €10bn in the next three years.