France-based Zencap Asset Management has launched a new fund to invest in real estate mezzanine debt in Western Europe, according to Boursier.com.
The new fund will enable the firm to bridge the gap between senior debt and equity investors (provided by banks or real estate fund senior debt).
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The main objective behind the launch of the new fund is to continue to provide its investors with returns of medium / long term attractive, relatively uncorrelated to traditional asset classes as related to actual cash flows generated with limited volatility, by exploiting a niche market under the radar of many competitors.
The firm’s strategy is to focus more on operators small or mid-cap and build partnerships with them to strong alignment of interests to yield mezzanine around 10%.
Zencap currently manages six investment funds specializing in distressed debt: debt structured / securitized transactions regulatory capital and real estate debt.
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