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La Française Real launches €150 million open-end fund
La Française Real Estate Managers has launched LFP Immo SR 2, an open-end fund with a €150 million ($190 million) equity target, which aims to reach by Dec. 31, 2015. It is open globally to investors.
The core/core-plus fund will invest in suburban and CBD office in France.
La Française Real Estate Managers is part of French asset manager La Française AM, which is controlled by regional bank Crédit Mutuel Nord Europe.
In February, La Française AM reported it expanded its real estate under management to €7.8 billion ($10.12 billion) by the end of 2012 from €7 billion ($9 billion) a year earlier. Property represents a small part of overall assets under management of €37.2 billion ($48.26 billion), but it accounted for more than half of the €1.6 billion ($2.1 billion) of new capital commitments last year.