A German insurance company and a German pension fund have backed Caerus Debt Investments, setting aside 鈧�80m for investment in the manager鈥檚 real-estate debt strategy.
The Caerus Real Estate Debt LUX SICAV-SIF fund is targeting opportunities in the euro-zone, concentrating on Germany, Austria, Switzerland and the Benelux countries.
The manager is targeting a 3-4% IRR for the 鈧�300m vehicle, which .
Caerus has structured the vehicle as a pooled fund, which will target senior collateralised loans with a loan-to-value ratio of up to 80%.
Investors can commit a minimum 鈧�10m to the fund.
Institutional investors have now awarded Caerus around 鈧�1bn in senior/whole-loan strategies, 鈧�800m 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.
