19 October 2017
Reporter: Theo Andrew

SELF II reaches €500 million on third close

AEW and Natixis Asset Management (AM) have completed the third closing of their Senior European Loan Fund (SELF) II, reaching €500 million.

The pan-European debt fund achieved the equity through institutional investors from France, Germany and Italy.

In the past three months, SELF II has invested in a retail portfolio in France, Germany and Poland; data centres in France and Italy; and an office tower in Paris.

The original SELF was launched in 2012 and raised €323 million in commitments.

SELF II, launched in 2016, invests in senior real estate debt positions, financing core real estate assets across the office, retail, logistics and hotel sectors. The total amount raised now exceeds €1 billion.

According to the fund, 50 percent of its capital has been allocated to France and Germany, with the remaining 50 percent spread across Italy, Benelux and Poland. The fund has also set sights on the Spanish lending market.

As part of the fund’s success, AEW and Natixis AM have expanded its debt team.

Natixis AM has appointed Chaoki Ben Halima to the team, while Sylvain Deschamps has moved internally from AEW. Both will report to Cyril Hoyaux, head of the European debt platform at AEW and Arnaud Heck, head of real estate finance at Natixis.

Hoyaux said: "We are continuing to deploy our strategy, with the help of our expanded team, and are confident in delivering above-target returns."

Heck added: "Our real estate debt platform continues to grow at a sustained pace, without compromising on asset quality or process of deals selections and follow up. Our three latest investments are in line with this approach, with co-arranged transactions or structured as small club deals.”

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