AEW Europe and Natixis Asset Management have raised €162 mln at first closing and secured the first two investments for their second real estate debt fund, Senior European Loan Fund II.
SELF II, which is being marketed only to institutional investors, is targeting total equity of €750 mln.
The fund will invest in senior real estate loans supported by core office, retail, logistics and hotel assets located in the main European markets. SELF II has already completed two investments totalling €45 mln through the acquisition of loans secured on a portfolio of office assets in the Paris region and an office building in Frankfurt.
Cyril Hoyaux, head of AEW Europe's European Debt Platform commented: 'We are currently working on a number of other opportunities and expect to announce other investments in the short term.'
'SELF II demonstrates AEW Europe and Natixis Asset Management’s commitment to this market which is expected to see volumes reaching €150 bn in 2016,' added Arnaud Heck, head of Real Estate Finance at Natixis Asset Management. 'Our network and market presence provides us access to a large number of transactions on which we undertake a detailed credit risk, portfolio and return analysis. Finally the Solvency II treatment of SELF II provides insurance companies with an attractive investment.'
SELF II's predecessor, SELF I was launched in 2012 with €323 mln of equity and was fully invested in July last year.
