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05/10/2009 -

BNP Paribas Real Estate strengthens its International Investment Management business line and launches several new funds

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BNP Paribas Real Estate’s dedicated Investment Management business line, already present in France, Italy and the UK, is to further develop its private-equity, fund management work on behalf of third parties and individual investors in three new countries: Belgium, Luxemburg and Spain.

As such, Christian Fabert, CEO of Fortis Private Real Estate, will shortly join the Executive Committee of BNP Paribas Real Estate International Investment Management. He will be responsible for developing business in these three countries.

BNP Paribas Real Estate is now seeking to reinforce European presence of its International business line dedicated to Investment Management, offering clients (institutional investors, public and private) expertise and quality service in the six countries where the business is now present.

Furthermore, BNP Paribas Real Estate has announced the launch of several new funds: Next Estate, a pan-European fund to be invested in offices that meet high sustainability criteria throughout the Eurozone and the UK. This will aim to invest up to €600m with a maximum 50% gearing with the first closing expected at the end quarter one in 2010. This will be BNP Paribas Real Estate’s third institutional investors fund advised by
BNP Paribas REIS.

A public OCPI (French REIT) will also be launched in France, subject to approval. The fund will provide a securitised way of accessing property, providing long-term protection against inflation. This fund will invest in offices in France and Europe and will start raising capital in 2010. It will be managed by BNP Paribas REIM in France.

Thirdly, a new fund outsourcing service is being considered in Italy.

François Benfeghoul, Deputy Chief Executive of BNP Paribas Real Estate, and responsible for the International business line of Investment Management, comments: “Our aim is to offer clients a complete, high quality service which uses all of the strengths of our local businesses. With three new countries to supplement our coverage, we now manage a total of nearly 10 billion euros of assets invested in European property, including €1.8 bn from Fortis Private Real Estate.”