Amundi’s alternative and real assets platform has set up a new €500m commercial real estate debt strategy to invest in Eurozone senior mortgage debt.

The asset manager said the strategy will mainly invest in loans with floating rates, thereby offering a hedge against rising interest rates.

Last November, the French investment manager expanded its private debt business to include real estate.

Amundi’s alternative and real assets platform already manages a €300m segregated mandate in this asset class.

Bertrand Carrez, the head of real estate debt strategy at Amundi, said: “We are aiming to raise between €350m and €500m and are confident of being able to invest this swiftly, exploiting our relationships with players across Eurozone senior debt.

“This should yield abundant deal flow and enable rapid deployment of capital while remaining highly selective in the quality of the loans.”