January 27, 2026
Launched in 2015, MCF Urban Convenience celebrates ten years of value creation and has established itself as Mata Capital's flagship fund. As the first vehicle structured by the company, it has been a cornerstone of its investment strategy and a solid foundation within diversified portfolio allocations for a decade.
As Jean-Baptiste Pracca, Founder of Mata Capital, points out:
“When we launched Urban Convenience, we wanted a fund that was transparent, disciplined, and built to last. Ten years later, the best proof is having navigated several crises while remaining true to our initial DNA: selection, rigor, and a long-term approach, all while delivering consistent performance for our clients, focused on distribution as well as capital gains*.”
A CORE+ strategy based on resilience and diversification
Urban Convenience is built on a CORE+ strategy, combining performance, visibility, and risk management over time. The fund relies on a granular and highly diversified portfolio, both sectorally and geographically.
As of December 31, 2025, the portfolio comprises 105 assets spread across France, primarily located on the outskirts of dynamic cities. Investments focus on segments essential to household consumption:
· retail properties (retail parks),
· local logistics.
Beyond asset type, geographical diversification is another key factor for resilience. The portfolio is spread across France, with balanced exposure across various dynamic regions (Hauts-de-France, Brittany, Auvergne-Rhône-Alpes, Île-de-France, and other regions).
This distribution helps to pool risks, cushion real estate cycles, and strengthen the stability of rental income, with an average financial occupancy rate of nearly 98% since inception.
Execution Management for Performance
Urban Convenience operates with a demanding operational execution strategy: securing rents, quickly re-leasing vacant spaces, and making value-creating divestments.
As Yann Briand, Managing Director and Fund Manager of Urban Convenience, emphasizes: "Urban Convenience is an execution fund: bringing assets to life, securing rents, re-leasing quickly, and divesting when it creates value. This operational approach (...) is central to the portfolio's resilience and its consistent delivery of high performance year after year."
This investment and management discipline has consistently delivered strong fundamentals since its inception:
· 9.1% average annualized performance*.
· 6.4% average annual distribution*.
This stable and transparent long-term performance reflects the consistency of the strategy, effective capital raising, and constant operational execution.
A Structured and Integrated ESG Approach
Urban Convenience is ISR-certified and classified as Article 8 under the SFDR regulation**. ESG criteria are fully integrated into all investment and management processes.
Over the years, this approach has been structured around several concrete initiatives:
· 2022: Launch of the Tertiary Decree and integration of its requirements into action plans.
· 2023: Analysis of the portfolio's photovoltaic potential and deployment of the Deepki platform for monitoring and managing ESG indicators.
· 2024: Analysis of the portfolio's exposure to climate risks and enhancement of energy and carbon data collection.
· 2025: Gradual deployment of EV charging stations, completion of flash energy audits across all assets, and launch of vulnerability studies.
This approach aims to anticipate sustainability risks, improve the environmental performance of assets, and enhance long-term value creation, in line with Mata Capital's commitment to responsible performance.
This initiative aims to anticipate sustainability risks, improve the environmental performance of assets, and enhance long-term value creation, consistent with Mata Capital's commitment to responsible performance.
Ten years after its launch, Urban Convenience exemplifies Mata Capital's ability to design and manage investment vehicles that are transparent, disciplined, and built to last.
Data calculated as of 31/12/2025.
*Past performance is not indicative of future results.
** SFDR (Sustainable Finance Disclosure Regulation, EU Regulation 2019/2088).
Investing in a real estate fund involves risks including illiquidity, capital loss, and those related to the real estate market.