Franklin Templeton Social Infrastructure Fund buys first assets
The Franklin Templeton Social Infrastructure Fund (FTSIF), an open-ended real estate-oriented social impact infrastructure fund managed by Franklin Real Asset Advisors (FRAA), has made its first investments in Europe.
Having raised EUR158.4 million (US$180.76 million) in its first close in 2018, the fund has purchased a justice court house in Madrid, a medical clinic in London, and an elderly care facility in Milan.
The fund will continue to invest in core, income producing assets located in, or around, large communities in the European Economic Area, Switzerland and the UK. It has a pipeline of over EUR500 million (US$572.04 million) of investments and expects to transact several additional assets in the first quarter of 2019.
It has secured financing from an investor base of eight European and Canadian institutional investors led by VBV-Vorsorgekass, a severance payment fund in Austria.
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