EIREF fund raises 200 million euros
Edmond de Rothschild REIM has raised €200 million in equity for the Edmond de Rothschild Euro Industrial Real Estate Fund.
According to Edmond de Rothschild REIM, the new capital commitments, which increase the industrial real estate fund's equity to €340 million and its investment volume to €500 million, come from "a number of large German investors, some institutional and private clients of Edmond de Rothschild, as well as several existing investors in the fund."
The Edmond de Rothschild Euro Industrial Real Estate Fund (EIREF) was launched in December 2018. It invests in light industrial and small logistics properties in metropolitan areas in the Benelux, Germany and France. The fund aims to benefit from growth in e-commerce, last-mile delivery and reshoring, Edmond de Rothschild REIM said. The first lead investor was Credit Suisse Asset Management, with a co-investment from Edmond de Rothschild.
According to fund manager Theo Soeters, EIREF intends to use the fresh money to grow further and diversify in France. At the same time, it wants to invest in the Benelux countries and Germany. The portfolio is expected to reach a volume of 500 million euros in 2023. The fund with a core-plus-risk profile currently has a portfolio of 28 assets worth 220 million euros.
