Cdp, 100 million for the first fund with InvestEU

Cdp Real Asset Sgr has set up FNA (Fondo nazionale dell'abitare), the first fund in Europe dedicated to social housing supported by the InvestEU programme guarantee. It is a new fund of funds with an initial endowment of EUR 100 million subscribed by Cdp and 50% guaranteed by the European Union under InvestEU, the European Union's programme for projects and investments. The aim is to strengthen the supply of sustainable housing solutions in Italy by attracting public and private investors. Fna will invest in affordable social housing initiatives and joins the Fondo investimenti per l'abitare (Fia) and the Fondo nazionale dell'abitare sociale (Fnas), expanding Cdp Real Asset's range of instruments for the development in Italy of the so-called "3 Esse" of social housing: Social, Student and Senior housing.

Cdp Real Asset Sgr is an asset management company whose capital is held, since its establishment, 70% by Cdp Spa and 30% in equivalent shares by Acri and Abi respectively. It manages closed-end alternative investment funds reserved for professional investors in the following four sectors: Social Housing (Fia, Fondo Investimenti per l'Abitare and Fnas, Fondo Nazionale dell'Abitare Sociale); Urban Enhancement and Regeneration (Fiv, Fondo Investimenti per la Valorizzazione and Fondo Sviluppo); Tourism (Fnt, Fondo Nazionale del Turismo); Infrastructure (FoF Infrastrutture).

The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds to support sustainable recovery. The programme has three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is allocated through implementing partners who will invest in projects using the EU budget guarantee of EUR 26.2 billion. The entire budget guarantee will support the investment projects of the implementing partners, increase their risk-taking capacity and thus mobilise at least EUR 372 billion in further investments.