London-based investment and management group Aerium has announced the launch of two institutional real estate funds focussed exclusively on the acquisition and development of property located in Switzerland. The funds have raised equity from a number of European, US and Middle Eastern pension funds, institutional investors and hedge funds, providing an immediate investment capacity of CHF 1 bn (EUR 675 mln).
London-based investment and management group Aerium has announced the launch of two institutional real estate funds focussed exclusively on the acquisition and development of property located in Switzerland. The funds have raised equity from a number of European, US and Middle Eastern pension funds, institutional investors and hedge funds, providing an immediate investment capacity of CHF 1 bn (EUR 675 mln).
The funds will be managed by Aerium, which recently boosted its investment team with the appointment of Brieuc de Crombrugghe to lead a team of specialist property advisors. The firm also opened a new office in Geneva in June 2008.
Aerium said it has made the first acquisitions with a total volume of CHF300 mln for the funds. The vehicles have purchased the newly built Tellpark Shopping centre in Schattdorf; the Winterthur shopping centre Grützepark anchored by Migros; Mars' head quarters building in Zug; an office building in the centre of Geneva let to FIPOI and an office building in Montreux multi-let to UBS and GE.
De Crombrugghe commented: 'Switzerland provides a prime example of a country where the property market has remained stable during this period of economic volatility. We look forward to building our business through acquisitions of direct property and by offering financial services, such as sale and lease-back.'
Aerium has launched and managed a total of 12 property funds representing over EUR 8 bn in real estate assets.
