Investment management firm Fidelity International announced that it has raised €110 million (USD$119 million) for the Fidelity Real Estate Logistics Impact Climate Solutions (LOGICs) fund, dedicated to energy transition in the real estate sector, adding to the €200 million raised during its first close in March 2024.

LOGICs, which is Fidelity’s second real estate investment vehicle focused on climate impact, invests exclusively in the logistics sector in the main markets of Western Europe. Via the fund, Fidelity acquires existing properties, and refurbishes them so they can be operated at net zero carbon by enhancing energy efficiency, optimizing the heating, cooling and lighting systems, and installing photovoltaic (PV) panels. The fund is classified as Article 9 under the EU’s SFDR regulation.

Since its first close in March 2024, LOGICs has acquired 10 properties in Europe, with assets in Spain, Germany, France and The Netherlands. Total deployable assets for fund now stand at €620 million (USD$671 million), the firm said.

Adrian Benedict, Head of Real Estate Solutions, Fidelity International, said:

“We are grateful to our investors across Europe and Asia Pacific for their trust and commitment, enabling us to secure €620 million in deployable capital to accelerate the energy transition in real estate. This investment underscores the growing global momentum towards sustainable development whilst delivering compelling returns to our clients”
Benedict added the Fidelity anticipates further closes for the fund throughout 2025, given strong investor interest.