Fundraising

Strong institutional demand for more risk plays into the hands of non-bank property lenders.

The real estate debt fund manager has raised £500m by first close for its fourth senior property lending vehicle.

Through its latest vehicle, focused primarily on investing in whole loans secured against UK commercial property, the firm has already committed £455m across 10 transactions.

Since mid-2018, the German insurer has deployed €1.5bn of debt through its Luxembourg platform.

Investing in real assets has become increasingly popular, and debt funds that provide financing for real assets projects are no exception.

The investment manager’s latest fundraising drive follows the closing of €200m of loans to Blackstone from its third mezzanine debt fund.

The vehicle will primarily lend against PRS and student accommodation assets in Spain and the UK.

The Italian insurance giant has launched its first property credit vehicle and is aiming to build a €3bn loan book within three years. Nunzio Laurenziello, who is leading the strategy, tells us why.

Insurance companies like the Italian giant are capitalising on institutional demand for real estate lending strategies.

The joint venture partners expect to hold a second close for their third senior property credit vehicle by December, targeting €400m.