LRI Group has partnered with Wealthcore Investment Management GmbH, a German-based investment company (Wealthcore), to launch its real estate special fund Wealthcore Austria Living I in the form of a Reserved Alternative Investment Fund (RAIF).
The new strategy is aimed at pension funds and pension schemes predominantly in Germany and Austria. Currently, the fund has an initial portfolio volume of close to €110 million ($126 million).
LRI Invest will act as the Alternative Investment Fund Manager (AIFM), while LRI Group´s in-house depositary for alternative investment funds, the LRI Depositary will serve as the registrar and transfer agent.
Wealthcore will function as the investment adviser and asset manager.
The investment strategy is based on building a diversified portfolio of new, existing and developing residential real estate. Institutional clients can receive access to core and core-plus real estate in Austria, with a focus on Vienna.
