Amundi Real Estate, the EUR 5.2 bn property investment company created in January this year from the merger of the asset management arms of Credit Societe Generale and Credit Agricole, intends to become the leading player in the private client market in France and grow internationally.
Amundi Real Estate, the EUR 5.2 bn property investment company created in January this year from the merger of the asset management arms of Credit Societe Generale and Credit Agricole, intends to become the leading player in the private client market in France and grow internationally.
The Amundi group, which was created by the merger of the asset managers, ranks third in Europe and is among the top 10 global asset managers. It has more than EUR 670 bn under management and is active in 30 countries, Nicolas Simon, CEO of Amundi Real Estate, said during a presentation at Mipim in Cannes on Tuesday.
Simon said Amundi RE aims to double its market share within the private client segment in France by 2015. This will involve the launch of new structured vehicles, or OPCIs. For instance, Amundi intends to launch an OPCI real estate collective investment scheme for retail investors in the second half of this year. Scellier Premely Habitat 2, the second real estate investment trust in this series, is to be launched in April 2010, Simon said.
Outside France, Amundi Real Estate is already a major player in the private client segment in Italy. The firm is also active in commercial real estate in Japan and Morocco. Simon said Amundi also aims to become the ‘partner of choice for French and international institutions’ by providing specialist collective investment schemes and financial engineering solutions to meet their desire to increase their exposure to real estate.
