Fondo Nazionale dell’Abitare (FNA) is born with a €100 million of funding provided by Cassa Depositi e Prestiti (CDP), backed by a 50% guarantee from the European Union
The aim is to strengthen the supply of sustainable housing solutions in Italy, attracting both public and private investors
Rome, 30 July 2024 – Cassa Depositi e Prestiti (CDP) Group strengthens its support for the development of social housing infrastructure in Italy and defines an additional strategic initiative in its longstanding collaboration with the European Commission, aimed at promoting sustainable and inclusive growth.
CDP Real Asset SGR, the real asset management company of CDP Group, has established the Fondo Nazionale dell’Abitare (FNA), the first fund in Europe dedicated to social housing supported by a european community guarantee. This new fund of funds has an initial endowment of €100 million subscribed by CDP, guaranteed 50% by the European Union under InvestEU, the EU program which supports projects and investments that enhance long-term competitiveness and growth.
Thanks to a combination of national resources and European support, FNA will invest in affordable social housing initiatives, thereby helping to reduce housing distress and address the challenges and emerging needs related to demographic changes, family structure transformations, and increasing socio-economic and territorial disparities, while promoting social inclusion. This aim aligns with the EU's intervention priorities, placing the new fund within the "Social Investments and Skills window", one of the 4 thematic areas supported by the EU investment program.
FNA complements the Fondo Investimenti per l’Abitare (FIA) and the Fondo Nazionale dell’Abitare Sociale (FNAS), expanding CDP Real Asset's range of financial tools to support the development of the "3 S" of social housing in Italy: Social, Student, and Senior housing.
The structure of the new FNA confirms the effectiveness of fund-of-funds instrument in social housing infrastructure domain, emphasizing its additional value compared to the market and its ability to attract other institutional investors, both public and private, enhancing the multiplicative effect of invested resources and the generated impact.