New CS investment group raises 362 million
The new CSA 2 Multi-Manager Real Estate Global investment group, a product of Credit Suisse Asset Management's Equities division, has received commitments totaling CHF 362 million from more than 60 investors in its first closing of subscriptions. The funds will be used to build up the real estate fund portfolio in the coming months.
The CSA 2 Multi-Manager Real Estate Global investment group is aimed at Swiss pension funds, giving them access to a globally oriented real estate portfolio. Investments are made indirectly through selected foreign unlisted real estate funds, which are generally less liquid than listed alternatives. The portfolio aims for broad diversification across real estate funds, fund managers, regions, sectors and risk profiles.
From the perspective of Filippo Rima, Head of Equities at Credit Suisse Asset Management, the first closing of subscriptions for the new investment group is a milestone in the field of Indirect Real Estate. The investment segment is new to Credit Suisse, which is why it has secured the support of Sven Schaltegger as lead portfolio manager for the product and Prof. John Davidson, co-head of real estate at Lucerne University of Applied Sciences and Arts, as an advisor and member of the investment committee, Rima says. (ah)
