EstCapital partners with BNL/BNP to offer real estate fund

Real estate funds manager EstCapital Sgr has signed a deal with the Italian pension fund of the BNL/BNP Group (Fondo Pensioni BNL) to develop real estate closed-end fund Previdente RE.

The vehicle invests in Italian real estate assets, and will be managed by EstCapital.

It is designed to act as an aggregation platform for social security investors. It will also target pre-existing funds with real estate assets in their portfolio. 

It will offer flexible solutions in terms of investment flows management, stable medium- to long-term performance, low risk profile and deep liquidity.

EstCapital confirmed the use of financial leverage in the fund will be limited. 

Gianfranco Mossetto (pictured), chairman of the group, said: “After the deal signed with Fondo Pensioni BNL, we are confident we will be able to attract other institutional social security investors, which are showing a growing interest for the combination between real estate investments and a flexible management of the investment. Previdente RE is a first on the Italian market.”

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