Property Investor Europe: German Caerus raises €80m for debt fund in 1st closing

German real estate debt consultancy Caerus Debt Investments has raised €80m in equity from a German insurer and a pension fund, which remained unnamed, for its Archimedes vehicle, a Luxembourg-based real estate senior- and whole-loan fund.

Caerus targets an investment volume of €300m and an IRR of 3% to 4% for the SICAV-SIF, according to a statement today. Structured as a pool fund, it invests in senior collateralised loans on real estate, with a loan-to-value ratio of up to 80%. The regional focus is on Germany, Austria, Switzerland and the Benelux countries.

After the first close of the Archimedes fund, Caerus received more than €1bn of total capital commitments. To date, the firm has placed around €800m of this in loans. Commenting on real estate debt, CEO Michael Morgenroth said: “No other asset class currently offers a more attractive risk-return ratio and, particularly for insurance companies, a higher return in respect of the capital adequacy rules required under Solvency IIl”

Düsseldorf-based Caerus Debt Investments was established in 2013 in a management buyout of shares held by Austrian Signa Holding. It is now held by CEO Morgenroth, CIO Patrick Züchner, Reichmuth & Co. Holding, the parent company of Swiss private bank Reichmuth & Co., and Berlin-based Dupuis Asset Management Capital.

Property Investor Europe, 22.11.2016


Jochen Goetzelmann
Targa Communications GmbH
T 069 153 24 21-0