WiseAM enters property market with fund launch
French boutique WiseAM has launched its first non listed real estate fund, WiseImmo, the firm has announced.
The manager said the launch of WiseImmo addresses French independent financial advisers’ demand.
WiseImmo invests in a diversified portfolio of France-located assets and seeks to deliver annual returns of 6%.
The portfolio will consist primarily of offices based in tertiary zones of largest French cities as well as of commercial assets. The fund’s size will not exceed €50m.
WiseAM manages over €200m in assets, mostly coming from French IFAs (CGPIs), family offices and private bankers.
The firm has set a target of €500m of AUM with the launch of new funds this year.