Sonae Sierra has announced the launch of a new open-ended AIF in Germany with the creation of the Sierra German Food Retail Income Fund I. The AIF invests primarily in the retail-food sector in Germany and targets institutional investors.
With a focus on discounters and supermarkets as well as on hypermarkets across Germany, preferably stable stand-alone properties, characterized by long-term leases with recognized, high-quality operators, the fund has a target investment volume of at least €200 million ($203 million).
The vehicle’s creation furthers Sonae Sierra’s focus on expanding its investment-fund-management business, a fundamental part of the company’s strategic ambition, where Sonae Sierra combines its extensive asset-value-creation experience with a strong track record of partnerships with leading blue-chip institutional investors.
The new Sierra German Food Retail Income Fund I kicks off with five retail-food properties, covering approximately
