Fundraising - MAY 3, 2017

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Aviva holds €105m first close for new European fund

by Jody Barhanovich

Aviva Investors, the global asset management business of Aviva, has held a €105 million ($96 million) first close for its newly launched Aviva Investors Continental European Long Lease Strategy Fund. Two investors that finalized commitments in April backed the new long-lease fund.

The portfolio will consist of Continental European properties with an initial focus on office, retail and alternative sectors in Germany, Austria, Benelux and Scandinavia.

The assets in the fund will be long-leased to high-quality tenants with remaining lease terms of typically at least 15 years. The fund will aim to make quarterly income distributions of between 4 and 5 percent per annum.

In addition, the new fund aims to deliver secure, predictable cash flow from predominately index-linked leases.

“The Aviva Investors Continental European Long Lease Strategy Fund offers investors the ability to benefit from the illiquidity premium inherent in real estate; inflation protect

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