Fidelity International has announced that it has raised an additional €110 million for its Fidelity Real Estate Logistics Impact Climate Solutions Climate Solutions Fund (LOGICs), bringing total investable assets to €620 million. The fund, which focuses on climate impact through the transformation of logistics real estate, has executed ten acquisitions in Europe valued at approximately EUR 275 million since March 2024.
LOGICs, Fidelity's second sustainability-focused real estate vehicle, invests exclusively in logistics warehouses in major Western European markets. Its strategy is to acquire second-hand assets with the objective of renovating them into net zero carbon buildings, aligning with tenants' sustainability objectives. To achieve this, priority is given to energy efficiency improvements, the installation of solar panels and the optimisation of air conditioning and lighting systems.
The fund, which closed its first financing round in March 2024 with €200 million, has now added new investment commitments from different regions, mainly Europe and Asia-Pacific. Thanks to this backing, LOGICs expects to make further financing closings throughout 2025.
‘The commitment of our investors allows us to drive the energy transition in the real estate sector. This investment not only demonstrates the global rise of sustainable development, but also offers attractive returns,’ said Adrian Benedict, Head of Real Estate Solutions at Fidelity International.
The importance of this transformation is highlighted by the fact that buildings account for more than 40% of total carbon emissions, according to the International Energy Agency (December 2020). Fidelity applies a ‘Value Add’ strategy, combining sustainability and profitability, by offering tenants the possibility to generate their own clean, non-polluting energy through photovoltaic installations.
LOGICs is classified under Article 9 of the European Union's SFDR Regulation and is part of Fidelity's Sustainable Investment Framework. Its performance model has been developed in accordance with ESG criteria and under the Fidelity Real Estate Sustainability Framework. The fund, domiciled in Luxembourg, is managed through FIL Investment Management (Luxembourg) S.A., under the supervision of the CSSF.