In brief: Fidelity reaches first close on logistics impact fund

Fidelity International has reached a first close on its logistics impact real estate fund at €200 million, according to a statement.

Fidelity Real Estate Logistics Impact Climate Solutions Fund came to market in 2023, New Private Markets data shows. It will invest in western European logistics property assets, which will be refurbished so that they are compatible with net zero. As part of this, Fidelity will install on-site solar panels. The fund is being marketed under Article 9 of the Sustainable Finance Disclosure Regulation.

Australian superannuation fund Rest has committed €80 million to the fund so far, and has agreed to commit up to a further €120 million over subsequent closes.

This is not Fidelity’s only impact fund. The firm launched Fidelity European Real Estate Climate Impact Fund – which invests in commercial assets that can be refurbished into sustainable workspace – at the end of 2023.