Global investment banking and asset management firm Alantra said on Friday that its private debt real estate fund, Alteralia Real Estate Debt FIL (Alteralia RED) has raised €132 mln in total capital commitments, significantly exceeding its target of €100 mln.
Alantra said that the fund launch met with ‘significant investor demand’, and investors included a diverse group of national and international leading insurance companies, pension funds, banks, family offices, and high-net-worth individuals.
The vehicle will offer loans of between €5 and €20 mln on commercial real estate assets in Spain and other European countries, including offices, retail, hotels, logistics, student residences, PRS (private rented sector or rental residential) and other alternative assets. These loans may be used for different purposes such as acquiring real estate assets, refinancing existing debt, funding for renovation or repositioning works.
The fund held its initial close in May raising €30 mln of equity.
Jacobo Llanza, CEO of Alantra Asset Management, commented: ‘The successful fundraising validates our proven track record of alternative financing in Iberia, where we are one of the most active private debt firms in the mid-market segment with 28 investments closed since 2015.’
Jaime Cano, partner at Alantra Private Debt, added: ‘We are pioneers in offering alternative financing in the Spanish real estate mid-market for investors looking for flexible terms at single-digit cost. We are convinced that we will successfully deploy the Alteralia RED’s capital and deliver a strong performance with a growing pipeline and the team’s solid track record. Alteralia RED has already completed one investment and expects to close two more shortly.’
Alantra’s private debt business has more than €1.2 bn in AuM throughout its direct investments business and strategic partnerships.
