Deutsche Asset & Wealth Management (DeAWM) has raised €500 mln in equity for a commercial real estate senior loan fund.
Deutsche Asset & Wealth Management (DeAWM) has raised €500 mln in equity for a commercial real estate senior loan fund.
The fund raising operation was carried out by Deutsche Alternative Asset Management (UK), part of DeAWM, which in turn is Deutsche Bank's asset & wealth management division.
Structured as a Spezialfonds (institutional fund), the vehicle will invest in German senior commercial real estate loans with loan-to-value ratios of up to 60% and secured against office, retail, residential and logistics assets. Loan maturity will range from 3 to 10 years.
'The capital raise demonstrates the increasing demand for real estate loans as an alternative to corporate and government bonds,' said Andrea Vanni, head of European real estate debt investments for DeAWM. 'The fund close also represents a further milestone for the expansion of our real estate debt business,' he added.
DeAWM has more than 450 employees around the world and €37 bn in assets under management as of end-September 2014.
