Akara Funds: New fund raises 120 million

The Akara Swiss Diversity Property Fund PK is the first fund of Akara Funds, which has been operating since August 2016. According to the company, investor interest was high: the issue was oversubscribed.

Akara intends to use the proceeds to acquire the properties already notarized in advance and to expand its portfolio with additional residential and commercial properties.

The Akara Swiss Diversity Property Fund PK is aimed at tax-exempt pension funds domiciled in Switzerland. In addition, investment funds may invest provided that their investors consist exclusively of tax-exempt pension funds domiciled in Switzerland. Investments are made in existing properties as well as in development and construction projects with the use types "residential and commercial" throughout Switzerland. The fund management aims at a constant attractive distribution, a long-term appreciation potential and a broad diversification. The properties are mainly held directly.

Behind Akara Funds AG are Karl Theiler as CEO and Jonathan van Gelder as CIO. Theiler was head of real estate investments at Swisscanto Asset Management AG from February 2008 to March 2014 and was responsible for a real estate portfolio of around seven billion CHF (as of March 2014). Van Gelder was head of real estate direct investments at listed Swiss Finance & Property Investment AG from March 2011 to May 2015. (ah)