Caerus Debt Investments is looking to raise 鈧�300m for a senior whole loan real estate debt fund.
The fund manager has structured the vehicle as a pool fund, which will target senior collateralised loans with a loan-to-value ratio of up to 80%.
Caerus said the Caerus Real Estate Debt LUX SICAV-SIF fund would target opportunities in the euro-zone, concentrating on Germany, Austria, Switzerland and the Benelux countries.
The manager is targeting a 3-4% IRR.
A first close is planned for the end of October.
Investors will be able to commit a minimum 鈧�10m to the fund.
Michael Morgenroth, chief executive at Caerus Debt Investments, said: 鈥淔or insurance companies, currently no other asset class offers a more attractive risk/return ratio and a higher return in relation to the equity securitisation required by Solvency II.鈥�
Institutional investors have already awarded Caerus around 鈧�800m in senior/whole-loan strategies, 鈧�700m of which has been placed so far.
Volkswohl Bund doubled the size of its real estate debt investment mandate with Cearus.
The German insurer followed up on its initial 鈧�200m commitment, , with a further 鈧�300m.
