REFIRE: CAERUS taps into long term megatrend with €300m new debt fund

The Düsseldorf-based Caerus Debt Investments is looking to raise €300m for a real estate debt fund as part of its senior/whole-loan strategy.

Caerus has structured the vehicle as a pool fund, which will target senior collateralised loans with a loan-to-value ratio of up to 80%. The geographical target for the Caerus Real Estate Debt LUX SICAV-SIF fund will remain the eurozone, concentrating on Germany, Austria, Switzerland and the Benelux countries. The target IRR is 3-4%, with a first close planned for the end of October 2016.

Investors can participate via a new sub-fund called Archimides with a minimum subscription amount of €10m.

According to Caerus founder and CEO Michael Morgenroth, “For insurance companies, no other asset class currently offers a more attractive risk/return ratio and a higher return in relation to the equity securitisation required by Solvency II.”

Institutional investors have already awarded Caerus around €800m in senior/whole-loan strategies, of which €700m has been placed so far.

Among Caerus's biggest mandates is that of German insurance company Volkswohl Bund, which last year followed up on its initial €200m commitment, made earlier in 2015, with a further €300m.

Read full Article: REFIRE Online, 20 October 2016

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