Aerium, a pan-European real estate fund management group, has announced the launch of Aerium Vendome I Fund to invest in prime retail real estate opportunities in France. Aerium is aiming to raise equity of EUR 50-60 mln for the vehicle which, with gearing, will provide it with some EUR 100-120 mln to invest in retail investments.
Aerium, a pan-European real estate fund management group, has announced the launch of Aerium Vendome I Fund to invest in prime retail real estate opportunities in France. Aerium is aiming to raise equity of EUR 50-60 mln for the vehicle which, with gearing, will provide it with some EUR 100-120 mln to invest in retail investments.
Commenting on the launch of the Fund, Daniel Bendavid, Chief Investment Officer of Aerium France, said: 'We are seeing continued appetite from investors to acquire French retail real estate. We believe this is the right time to invest in this asset class and we are extremely confident that our team of real estate professionals in Paris will be able to deploy the capital quickly and generate the target returns for our investors.'
Aerium Vendome I falls under the umbrella fund Aerium Special Opportunities Fund, a Luxembourg-regulated FCP. The Fund’s investment strategy focuses on retail properties in and around Paris and on high-street and edge-of-town units in the main regional centres with large catchment zones and a successful retailing history.
CB Richard Ellis will act as placement agent. The fund has a target IRR of 9-11% after all fees and aims to pay a quarterly income distribution of 5-6% of contributed capital.
AErium claims to have a strong track record in France with 22 years’ experience and a substantial local presence offering both asset and property management expertise. The Paris team currently manages over EUR 1.4 bn of assets and 600 tenant relationships across its retail and office portfolio.
AErium Vendome I is the first of a series of small niche funds under the ‘Special Opportunities’ banner launched to capitalise on immediate opportunities in the market place. Further funds to be launched will include a UK trophy asset fund and a German Retail fund which will take some refurbishment and leasing risk.
AErium is a Luxembourg based financial services group which manages private equity real estate funds across continental Europe, as well as separate mandates for institutional clients. Over the past eight years, AErium has raised equity of more than EUR 2.7 bn and created value through the acquisition, development, management, structured financing of, and advisory services for, commercial properties throughout Europe.
