Amundi seeks €600m for the second vintage of its senior mortgage fund

Amundi, a European asset manager with €1.9 trillion ($2 trillion) in assets under management, is launching the second vintage of its senior mortgage fund: Amundi Commercial Real Estate Loans II (ACREL II).

The fund will invest in the major economies of the eurozone, with a focus on sectors that have demonstrated resilience in a volatile and uncertain environment, such as premium office space (central locations and flexible offices offering services), logistics and managed residential properties. ACREL II will aim to select primarily property-backed debt with core or core-plus risk profiles, with a carefully managed value-add component as an additional performance lever.

ACREL II has raised €150 million ($160 million) and is targeting a closing size of around €600 million ($641 million).

The strategy of this new vintage extends that of the ACREL I fund, which raised €443 million ($474 million) from European institutional investors and built a diversified,