Institutional fund manager Acofi Loan Management Services has announced its joint venture platform with French insurance group Groupama's asset management arm has raised a total of EUR 280 mln at the first closing for its Predirec Immo 2019 debt property fund.
Institutional fund manager Acofi Loan Management Services has announced its joint venture platform with French insurance group Groupama's asset management arm has raised a total of EUR 280 mln at the first closing for its Predirec Immo 2019 debt property fund.
The vehicle, targeting to raise a total of EUR 400 mln, will be marketed to institutional investors up to the end of the first half of 2012.
Launched in May 2012, the fund will focus on senior loans backed by prime assets, which will represent some 90% of its portfolio. The Ile de France region is forecast to account for 65% of its investments, with the regions making up for the remaining 35%. The fund will focus on single asset deals and single borrowers and will have an investment period of 18 months.
Predirec Immo, with a life term of six years, is managed by Raphaël Brault and concentrates in margins of 200 basis points above the three-month Euribor.
