French asset manager Amundi has unveiled a real estate debt strategy providing exposure to eurozone senior mortgage debt and that will be primarily invest in loans with floating rates.
The manager underlines issuance of eurozone real estate debt amounts to over €100bn annually across Europe, 10% of which is in France.
Amundi’s alternative and real assets platform already manages a €300m segregated mandate in this asset class and includes ESG screening of the underlying properties.
Bertrand Carrez, head of Real Estate Debt Strategy at Amundi, said: “We are offering clients a combination of Amundi’s deep expertise in fixed income, where we are Europe’s leading platform, and in real estate – where we made €6bn of acquisitions in 2017.
“We are aiming to raise between €350 and €500m and are confident of being able to invest this swiftly, exploiting our relationships with players across Eurozone senior debt. This should yield abundant deal flow and enable rapid deployment of capital while remaining highly selective in the quality of the loans.”
Amundi’s commercial real estate debt team relies on the private debt division and Amundi Real Estate for credit and property analysis.
The French manager’s alternative and real assets platform had €41.6bn of assets as of end March 2018.
'Excellent growth opportunity'