Swiss Life Asset Managers is planning to raise €1bn for a new European industrial and logistics real estate fund.

IPE Real assets understands that the newly launched Swiss Life Real Estate Funds LUX SICAV-SIF – European Industrial & Logistics fund has so far raised €120m, acquired three assets in Germany and is considering a pipeline of deals in the Netherlands.

The fund intends to raise up to €1bn in the next 3-5 years.

“The focus is on Germany and France but includes properties in the rest of Europe, especially in the UK, Benelux and Switzerland,” Swiss Life said.

Roughly half of the assets are to be invested in industrial and the other half in logistics properties, the manager said.

In June, IPE Real Assets reported that Swiss Life was planning to invest around €1bn in European industrial and logistics real estate.

At the time, the asset manager said it believes investments in European industrial and logistics real estate will benefit from a number of megatrends like de-globalisation, e-commerce and urban logistics.

“Industrial and logistics real estate is noted for producing steady returns, as the focus is more on rental income and less on value increases from market growth, the manager added.

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