Estcapital gets approval from Bank of Italy for 3 new funds

Italian property fund manager EstCapital Group has received approval from the Bank of Italy for the launch of three new closed-end property funds: Real Stone, Real F&F and RealEnergy.

Real Stone, with a target size of EUR 80 mln, will mostly invest in plots of land with building permits for commercial and residential space. Real F&F will be a fund of funds vehicle that invests in property companies, investment funds, as well as Spanish, French and Italian real estate investment trusts, and will seek to reach a size of EUR 100 mln. RealEnergy, with a target size of EUR 100 mln, will be the first property fund specialised in investment in energy-producing properties.

EstCapital is active in Northern Italy as well as in Eastern Europe and manages a total of 13 property funds.