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Property Investor Europe: German Caerus raises €47m for debt fund in second closing

German real estate debt firm Caerus Debt Investments has raised a further €47m in the second closing of its Archimedes vehicle, taking total fundraising for the real estate senior- and whole-loan fund to €129m.

The new capital will come from a major German insurer and an increase from an existing investor, Caerus said in a statement. The Düsseldorf-based firm previously raised €82m in the fund’s first closing in November 2016 from a German insurer and a pension fund, with the new capital commitments taking fundraising to €129m. The fund has a target investment volume of €300m and an IRR of 3%-4%. The fund invests in senior collateralised real estate loans with a loan-to-value ratio of up to 80%, and has a regional focus on Germany, Austria, Switzerland and the Benelux countries.

“No other asset class currently offers a more attractive risk-return ratio and a higher return, particularly for insurance companies, in relation to the equity securitisation required by Solvency II,” said Caerus Debt Investments CEO Michael Morgenroth.

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. The firm has received more than €1bn of total capital commitments and has placed some €800m of this into loans. pie

Property Investor Europe, 12.07.2017