Brownfields redevelopment fund 3
Last updated 23 November 2020, by Impactyield.
Developed countries (203) / More developed regions (202) / Western Europe (42)
Like its predecessor Brownfields Redevelopment Fund, Brownfields 3 is an environmental infrastructure fund dedicated to the remediation and redevelopment of environmentally impaired sites.
The Fund purchases former industrial, tertiary or commercial facilities, takes responsibility for asbestos removal, demolition and remediation, and defines a redevelopment program in close collaboration with the local communities. Such programs often are based on housing (including social housing) but can also include tertiary, commercial or industrial developments. The Fund will invest in projects mainly in the France and Benelux area but also in Spain and Poland. The Fund can commit up to 50% of its capital by participating in subsequent co-development on the cleaned sites.
The fund has raised EUR 250m from institutional investors, including the French Caisse des Dépôts, and the European Investment Bank. The Fund as a term of 10 years, five years investment period and benefits from the EFSI support.
The management company Brownfields Gestion has a strong track record in the sector, in particular using the “tiers-demandeur” procedure.
of track record
the year funded
Key performance indicators
Asset manager: brownfields
Product track record: Fund has 6 years of track record
Target IRR: n.a.
Committed Capital: n.a.
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Fund domicile: France
Inception year: 2017
Vintage year: 2017
Target region: Developed countries, More developed regions, Western Europe
Target close date: n.a.
Product term: n.a.
Assets under management: n.a.
Investment size: Min: 0; Max: 0; Avg: 0
Currency of investments: EUR (Euro)
Currency for fund / product figures: EUR (Euro)
Fund investments to date: 0
Fund investments to date exited or repaid: 0
Management fee: n.a.
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Hurdle rate: n.a.
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
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Phone number: n.a.
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The purpose of the fund is to acquire contaminated urban and industrial sites from private and public owners, remediate the polluted soil and groundwater and sell the remediated land to third parties for development. The developments on the remediated sites may potentially comprise social and affordable housing and buildings with high energy-efficiency performance in which the fund may act as co-developer.