BNP Paribas appoints manager to Next Estate Income Fund

BNP Paribas Real Estate Investment Services has named Laurent Boissin as fund manager of the Next Estate Income real estate fund (NEIFER).

Boissin has 12 years of experience in structuring and managing investment funds. He joined BNP Paribas REIS in 2010 as financial director for NEIFER.

The fund, managed by the international property arm of French bank BNP Paribas, has EUR 120 mln of equity commitments and expects to meet its fundraising target of EUR 300 mln by early 2012.

NEIF is a Luxembourg-registered real estate investment fund focusing on offices. The vehicle was launched in late 2010 and has a 10-year life term. It targets investments in the eurozone, focusing on France, Germany, Italy and the Benelux.

The fund made its first acquisition in January this year when it bought an office project in the new district of Claude Bernard in the 19th arrondissement of Paris for around EUR 93 mln.