Berlin-based Catella Residential Investment Management has appointed Marwin Weber as fund manager of its €1.25 bncapital commitment Catella European Residential Fund III (CER III), which is one of the largest pan-European residential investment vehicles.
Marwin Weber was previously fund manager at Patrizia and was responsible for two core pan-European residential real estate funds (among others, Patrizia's European Residential Flagship Fund) and one German residential value-add vehicle. He was part of Patrizia's ESG Working Group for the implementation of the company wide ESG fund strategies and responsible for the implementation of the ESG strategy of the manager’s Residential Flagship Fund.
CER III has a diversified portfolio of investments encompassing around 30 properties in seven countries across Europe. The Fund integrates a significant reduction of greenhouse gas emissions from its properties and sustainable societal objectives in its investment mandate. Alignment of interests between Catella and institutional investors in CER III is achieved through incorporating a penalty clause into the management agreement whereby CRIM will donate part of its recurring management fee to a relevant ‘impact-related’ United Nations Fund should the manager fail to meet the financial or societal targets set for the fund.
Marwin Weber said: 'The successful development and volume of capital commitments of the CER III fund within such a short space of time is impressive, along with its high ESG targets. I look forward to contributing my European residential know-how to achieving the goals set out for the fund and to make a positive environmental impact with our European team.'