​​Sonae Sierra launches food retail fund in Germany

​​Sonae Sierra has launched a new open-ended alternative investment fund (AIF) to invest in Germany’s food retail sector.

Targeted to institutional investors, the Sierra German Food Retail Income Fund I will focus on discounters and supermarkets, as well as on hypermarkets across Germany — preferably stable stand-alone properties that are characterized by long-term leases with high-quality operators.

The fund has a target investment volume of at least €200 million ($232 million).

“The creation of this new open AIF represents a new landmark for Sonae Sierra in Germany and offers a solution for professional and institutional investors, looking for stable long-term income, managed by an experienced team with combined asset management and investment management know-how,” said Christoph Billwiller, leader of the firm’s investment management team in Germany. “It is part of Sonae Sierra's strategy to increase our exposure to new real estate investment