Natixis (KN)’s asset-management unit and investment manager AEW Europe plan to raise as much as 500 million euros ($608 million) for a fund to invest in European real estate loans.
The Senior European Loan Fund will finance real estate assets including office, retail and logistics properties mainly in France, Germany and the U.K., according to a joint statement.
“The real estate financing market is experiencing a structural change with a marked decrease in funding capacity of the banking system, creating an opportunity for the emergence of new participants in real estate debt,” AEW Europe Chief Executive Officer Christian Delaire said in the e-mailed statement.
The fund, which has already raised 240 million euros, seeks to deliver returns similar to investment-grade bonds, according to the statement.
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