Italian asset manager Coima has announced plans to launch three new thematic investment vehicles in the next 18 months, targeting total investments of €2.5 bn.
Coima, which is headed by Manfredi Catella, is preparing the launch of an evergreen fund with a focus on prime assets and a develop-to-core strategy, with an investment target of €2 bn and a first close expected this year.
In addition, Coima said that its new Private Rented Sector (PRS) fund, investing in all residential subsectors including student housing and senior living, is targeting €1 bn of equity with a first close expected in 2022.
Finally, Coima is to launch a new value-add fund known as Coima Opportunity Fund III, with a target of €500 mln and a first close also planned for 2022.
Coima, which is behind the successful regeneration of Milan’s Porta Nuova district, also said that it plans to invest up to a further €5 bn in new urban projects over the next five years. 100% of the group's new developments will be aligned with the 2050 decarbonisation target of 2°C and will be both Leed and Well certified. To support the company’s growth, Coima has established a new holding company known as the Coima Group.
‘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,’ commented founder and CEO Manfredi Catella.
Coima currently manages over €8 bn of assets, with the aim to reach €10 bn over the next three years. The group is very active in Milan through the Porta Romana railway yard development, in partnership with Covivio and Prada Holding, as well as in the Valtellina area within the Scalo Farini, and in the north-eastern district of the city with Porta Nuova.
