Edmond de Rothschild: ERRES-CI has fresh capital
The fully subscribed issue raised CHF 56.5 million for acquisitions.
The latest capital increase of Edmond de Rothschild Real Estate SICAV - Commercial Income (ERRES-CI) has been completed. According to the fund management, 538,590 shares were subscribed, corresponding to a total contribution of CHF 56.5 million. The funds came from both existing and new investors, as detailed in a press release. The issue proceeds are to be used for acquisitions "with the aim of distributing a dividend of CHF 4.50 per share for a full year".
The ERRES-CI fund was launched in July last year with CHF 54.4 million in equity. Since then, five transactions with a total investment volume of CHF 85 million and an average gross return of 5.5 % have been completed, Edmond de Rothschild recently announced. (aw)
