Amundi is seeking to raise 鈧�600m for a second commercial real estate debt fund to invest in Eurozone senior mortgage debt.
The asset manager said it has raised an initial 鈧�150m for the newly launched Amundi Commercial Real Estate Loans II (ACREL II) fund, to mainly focus on sectors that have 鈥渄emonstrated resilience in a volatile and uncertain environment鈥�, such as premium offices, logistics and managed residential properties.
ACREL I, the manager鈥檚 predecessor fund raised 鈧�443m from leading European institutional investors.
Amundi said ACREL II will mainly target property-backed debt with core or core-plus quality risk profiles, with a 鈥渃arefully managed value-add component as an additional performance lever鈥�.
Bertrand Carrez, the head of credit real estate debt at Amundi, said: 鈥淲ith 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.鈥�
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