RLI Investors has launched a second German logistics fund.

The German asset and fund manager said it has secured backing by institutional investors for its RLI Logistics Fund–Germany II vehicle.

The open-ended fund, which is targeting an annual 6.75% distribution yield, attracted an initial €100m in its first close.

It will follow the core-plus strategy of its predecessor, focusing on properties with long-term leases or exprin with expiring leases suitable for a range of occupiers, as well as older properties with “high value potential”.

It will target industrial, retail and e-commerce logistics properties across Germany.

Sophie Schweimer, fund manager at RLI, said the fund is aimed at existing and new investors.

The fund can also buy assets during the development stage via forward purchase and forward funding agreements.

It is expected to invest as much as €400m.