Dutch pension asset manager has launched an open-ended senior living impact real estate fund and secured 鈧�130m in capital commitments from local pension funds Pensioenfonds PostNL, Stichting Pensioenfonds voor Personeelsdiensten and Pensioenfonds TNO, as well as from banking firm ING.
Bouwinvest said the Senior Living Impact Fund, classified as an Article 9 fund under the European SFDR sustainability framework, is open to additional investors.
The core fund will focus on investing in high-quality, sustainable senior housing properties like assisted living, private residential care and intramural living complexes in the Netherlands, the manager added.
Maya Savelkoul, fund manager at Bouwinvest, said, after launching the Dutch Impact Partnership with ABP and bpfBOUW pension funds, 鈥淚鈥檓 incredibly proud that we have now launched a second impact product鈥�.
Savelkoul added: 鈥淭hese first investors really want to make a difference in the Dutch assisted living market. In the coming years, we want to continue to expand this fund and be actively searching for new institutional investors who support this social ambition.鈥�
Jorrit Arissen, co-head real estate at Van Lanschot Kempen, who advised the three pension funds on this investment, said: 鈥淲e have seen an increasing number of institutional clients who are expressing a desire to have an impact close to home, within different investment categories.
鈥淏y working together, we can make solutions accessible within different asset classes. This allows our clients to realise both their social and investment ambitions through targeted allocations to impact-driven strategies within alternative investment categories. This co-creation with Bouwinvest is a great example of how one can realise local impact within a real estate allocation. The common goal is to contribute to the significant shortage in housing for seniors in the Netherlands.鈥�
Elena Kalthoff, director ING鈥檚 social impact business, said: 鈥淚NG is investing in this Senior Living Impact Fund because we believe that seniors in the Netherlands should have access to suitable and future-proof housing and care. Homes that have been designed with an eye to their care needs allow seniors to live independently for longer, which helps them stay healthy and happy and so reduces pressure on the healthcare system.
鈥淎s the bank with the largest number of private customers, we are proud that we can make a difference for the Netherlands on this important issue.鈥�
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