SCOR Investment Partners holds €500m initial close
SCOR Investment Partners, the SCOR group’s portfolio management company, has completed an initial closing of €500 million ($586 million) for its SCOR Real Estate Loans III fund.
Following this new commercial success, the assets raised for the firm’s real estate loan activity since its launch in 2013 amount to €1.2 billion ($1.4 billion).
The SCOR Real Estate Loans III fund is the third in a series of funds investing in real estate mortgages. Like the first two funds, this French loan fund for the economy favors the financing of assets under development, restructuring or repositioning that benefit from the latest environmental labels or welfare certifications. With a preference for projects participating in the energy transition, at least 65 percent of the gross commitments of the portfolio will be backed by buildings benefiting from environmental labels.
SCOR Investment Partners has built up recognized know-how in the segment of value-added real estate operations. The investment team deployed more than €690 million ($809 million) between 2014 and the first half of 2017. The SCOR Real Estate Loans III fund was marketed to around 10 European institutional investors that have invested alongside the SCOR group.
“Many of our clients, like the SCOR group, are indeed leaders on topics such as financing the real economy and the energy transition,” says François de Varenne, CEO of SCOR Investment Partners.
SCOR Investment Partners manages a portfolio of €19.2 billion ($22.5 billion) for SCOR as of December 2016. Since 2012, SCOR Investment Partners has given external institutional investors access to some of the diversification strategies developed for the SCOR group. As of June 2017, SCOR Investment Partners manages third-party assets amounting to over €2.9 billion ($3.4 billion).