European asset manager Amundi has launched Amundi Commercial Real Estate Loans II (ACREL II), the second vintage of its senior mortgage fund.
The fund will invest in the major economies of the euro zone, with a focus on sectors that have demonstrated resilience in a volatile and uncertain environment, such as premium office space (central locations, flexible offices offering services), logistics and managed residential properties.
The ACREL II fund will aim to select primarily property-backed debt with Core or Core+ quality risk profiles, with a carefully managed Value Add component as an additional performance lever.
This new fund has already raised €150 million and is targeting a final size of around €600 million.
This vintage will be part of a strategy of financing the energy transition by earmarking the investments financed and monitoring changes in the energy performance and carbon footprint of the assets financed, as well as their qualification by the highest standards of environmental certification. Classified as an Article 8 Fund under SFDR, the fund will take greater consideration of non-financial criteria (ESG and Climate) through a rating carried out with a proven proprietary methodology, and will place a particular value on green financing.
“With this successor fund ACREL II, we aim to offer investors indirect exposure to real estate that will be both resilient and offer a high relative value, building on the success of the first vintage which demonstrated the depth of our market access, as well as the robustness and agility of our management model,” comments Bertrand Carrez, Head of Credit Real Estate Debt at Amundi.