Aberdeen Standard courts investors in fresh €150m raise

Aberdeen Standard Investments is looking to raise up to €150m for its European Long Income Real Estate Fund after fully deploying equity from its first close. ELIREF is invested in housing, logistics and education. ASI aims to grow the fund to €1bn within five to seven years, following a similar strategy to its £2.7bn Long Lease Property Fund. ASI completed a first close in 2019, with over €100m capital commitments from six institutional investors in six different countries. It has since acquired four assets. The fund invests in long-term, inflation-protected income streams with reduced volatility in capital values, typically with long leases and long-term tenants. It is focused on Western European markets, specifically Germany, France, Benelux and the Nordics. Following a social housing deal in Ireland, it is now fully deployed and is fully financed to a target level of 25% of gross asset value. Within the wider residential sector, it is currently targeting senior living assets, let to financially strong operators in prime locations. Fund manager Troels Andersen said: “With government bond yields and interest rates still at historic lows, we believe the attraction of this kind of strategy is greater than ever. This fund can provide European institutional investors with access to a potential source of long-term, reliable income. “With a strong pipeline of deals being considered, new capital commitments can be deployed swiftly.”   To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette Image courtesy of PR