Pretium Real Estate: New fund launched
According to the fund management company, a new fund has raised CHF 400 million in its initial placement. Three of the founders have a Helvetica background.
The fund management company Pretium Invest AG has completed the initial issue for the Pretium Real Estate Fund. The fund started with total fund assets of over CHF 400 million, according to the Frauenfeld-based company. The fund, which was established under Swiss law, carried out the initial issue on a "best-effort basis" and issued a total of 1.8 million units at an issue price of CHF 101.50 net. The funds from the initial issue are earmarked for the already secured acquisition of 13 properties. The portfolio is spread across the cantons of Zurich and Thurgau.
"With a total fund volume of over CHF 400 million, this initial issue is unique in its size and underlines the confidence of investors in our strategy and in our first-class real estate portfolio," says Salman Baday, CEO & Founding Partner of Pretium Invest AG. In a previous role, Baday was Head of Sales at fund provider Helvetica for six years. Previous positions include Vontobel and Bank J. Safra Sarasin. The founding partners also include Michael Müller, who was also once active at Helvetica, where he was CEO for almost two years. He then went into business for himself with Vierkant Immobilien. Another ex-Helvetica employee is also on board at Pretium: its former Head of Finance and Deputy CFO Michael Knoflach fills the CFO role at the new company. Thomas Borer, the former Swiss diplomat who represented the Swiss Confederation in Berlin for three years, is the Chairman of the Board of Directors. (aw)
