La svizzera Pictet Alternative Advisors lancia il nuovo fondo “Real Estate Capital – Elevation I ”, investirà in Europa

Pictet Alternative Advisors SA (PAA), the Pictet Group’s whollyowned alternative investment company, has announced the launch of the Pictet Real Estate Capital – Elevation Fund I SCSp (Elevation I) for professional investors. Elevation I will invest in direct property assets in smart and gateway European cities. Such cities are at the forefront of economic digitalisation and enjoy favourable demographics from strong urbanisation trends. Elevation I will follow a value-add investment and management strategy. The fund will be managed by a 14-person team under Zsolt Kohalmi, Global Head of Real Estate and co-CEO of PAA. Previously at Starwood Capital, he has more than 20 years’ experience managing private real estate investment. The team includes local real estate specialists in the UK, Germany, Sweden, Spain, Luxembourg and Switzerland. Zsolt Kohalmi said : “Europe is currently the most attractive global market for real estate investment on a risk-adjusted basis. It has stable cap rates due to continued low interest rates and has finally started seeing rental growth. We expect the volatility in Europe in the coming years to provide interesting entry point opportunities. We believe that Europe will remain a compelling investment opportunity in real estate for some years to come.” Constrained bank lending in Europe in the decade since the Global Financial Crisis has meant that the refurbishment and development of new real estate stock across markets is running at well below the long-term average. These conditions give rise to value-add investment opportunities. Kohalmi added, “As occupiers’ desires evolve, technology and the expectation of more environmentally-friendly buildings is also influencing demand, which provides an opportunity to create stock that is currently in short supply. Elevation Fund I will also put significant emphasis on Proptech solutions for its deal origination as well as asset management.” Elevation I is a closed-end investment vehicle with an eight-year term. The Fund is targeting a final close by the end of the year. Elevation I is an AIFMD-regulated vehicle that is being offered to professional investors in Austria, Belgium, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Luxemburg, Malta, Netherlands, Portugal, Spain, Sweden and the United Kingdom, as well as accredited investors in Singapore and qualified investors in Switzerland. Pictet Alternative Advisors aims to raise a second real estate fund with a core plus strategy within the next year. The Pictet Group is a partnership of eight owner-managers, with principles of succession and transmission of ownership that have remained unchanged since foundation in 1805. It offers only wealth management, asset management and related asset services. The Group does not engage in investment banking, nor does it extend commercial loans. With USD 503 (CHF 496/GBP 395/EUR 440) billion in assets under management or custody at 31st December 2018, Pictet is today one of the leading Europe-based independent wealth and asset managers. Headquartered in Geneva, Switzerland and founded there, Pictet today employs more than 4,300 people. It has 27 offices in: Amsterdam, Barcelona, Basel, Brussels, Dubai, Frankfurt, Geneva, Hong Kong, Lausanne, London, Luxembourg, Madrid, Milan, Montreal, Munich, Nassau, Osaka, Paris, Rome, Singapore, Stuttgart, Taipei, Tel Aviv, Tokyo, Turin, Verona and Zurich. Pictet Alternative Advisors (PAA) is the Pictet Group’s whollyowned entity responsible for investments in hedge funds, private equity and real estate. Since 1991 PAA has constructed, managed and advised on portfolios of alternative investment solutions for institutional and private clients. PAA employs close to 70 alternative investment specialists and manages around GBP 20.5 billion, with GBP 7.7 billion in hedge funds, GBP 10.8 billion in private equity and GBP 2.0 billion in real estate (at end of December 2018). Source : Compay