• €355m equity raised, bringing the Fidelity Real Estate Logistics Impact Climate Solutions Fund’s total investment capacity (inc. debt) to €710m  
• Two-thirds of capital already deployed across 14 properties in Spain, Germany, France, the UK, and the Netherlands
• Proprietary climate impact framework ensures each asset is renovated to deliver energy efficiency improvements and an accelerated defined pathway to net zero carbon    

Fidelity International (“Fidelity”) today announces the successful final close of its Fidelity Real Estate Logistics Impact Climate Solutions Fund (“LOGICs”), securing €355m of equity commitments from a global base of institutional investors, including cornerstone investor Rest, one of Australia’s largest profit-to-member superannuation funds. Including leverage, LOGICs brings €710m of total investment capacity dedicated to accelerating the energy transition in the real estate sector.  

Since its first close in March 2024, LOGICs has already deployed two-thirds of its capital – acquiring 14 logistics properties in Western Europe with a combined volume of c. €470m. Fidelity expects the remaining capacity to be deployed in the coming months, supported by a deep pipeline of logistics opportunities identified by its investment teams.  

With buildings accounting for over 34% of global CO2 emissions*, the energy transition within the real estate sector is of critical importance. LOGICs invests exclusively in the logistics sector in Western Europe, acquiring existing properties, and refurbishing them so they can be operated with net zero emissions.  

Fidelity has developed a comprehensive, proprietary, climate impact framework, aligned with the EU taxonomy and external certification standards, to ensure its approach to delivering climate impact and an accelerated net zero pathway for each investment is transparent and measurable.  

Adrian Benedict, head of real estate solutions, Fidelity International adds: “Securing €355m of equity commitments against a difficult economic backdrop is a clear endorsement of both the strategy’s robust and unique proposition, and Fidelity’s leadership in climate impact within the real estate sector. With strong backing from our investors, LOGICs is proving that delivering climate impact and strong returns can go hand-in-hand. Investor demand for strategies like LOGICs is only accelerating, and we will continue to explore new ways to deliver compelling solutions that meet our clients’ needs in the climate impact space.”

Andrew Bambrook, head of real assets, investments, Rest says: “With around three quarters of Rest’s 2 million members still many decades from retirement, we think deeply about the long-term forces influencing the global economy and our society, such as decarbonisation and deglobalisation. We expect our investment in Fidelity’s LOGICs fund to benefit from these forces and provide long-term value for our members. Logistics assets are well-positioned to deliver strong returns and support the transition to net zero, particularly when you consider the opportunities available through upgrading Europe’s ageing building stock, and the ongoing expansion of e-commerce and supply chain re-onshoring."

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