The company will be advised by Acofi Gestion and will provide borrowers with a suite of debt financing solutions, targeting mid-sized global loans and mezzanine loans to support commercial real estate in France. The partnership will invest in higher leverage middle market finance against stabilized, bridging and development assets that are not currently supported by traditional lenders and will pursue a diversified investment strategy in terms of instrument, asset class and geography.
“With France as one of the largest commercial real estate markets L’Europe , we have identified a clear shortage of local, flexible and structured sources of debt financing, especially for more complex transactions, ”said, Alain Carrier, Boss of L’Europe , Head of International Division, CPP Investments. “As part of our broader growth strategy L’Europe , we have chosen Acofi Gestion as a partner to seize this opportunity, providing long-term capital that will ultimately generate strong risk-adjusted returns. ”
This new partnership represents RAC’s second engagement in the European middle market credit space, with an established partnership already covering Spain and Portugal. It is part of an investment strategy to invest effectively in highly fragmented multi-jurisdictional real estate lending markets across L’Europe . RAC’s partnerships in Spain, Portugal and France are strong pillars of the European mid-market strategy, complementing its existing direct origination business which focuses on complex, larger-scale financing solutions.
“Our new partnership with CPP Investments allows us to leverage our extensive direct supply network in the field, as well as our underwriting and asset management capabilities to support the deployment of this new and important mandate,” said declared Christophe Murciani, head of CRE debt funds at Acofi Gestion. “The company will provide borrowers France a new flexible source of capital to meet their needs at a time when financing has become difficult to find. “
About CPP Investments
The Canada Pension Plan Investment Board (RPC Investments ™) is a professional investment management organization that manages the Fund in the best interests of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified asset portfolios, investments are made around the world in public stocks, private stocks, real estate, infrastructure and fixed income securities. Based at Toronto, with offices in Hong Kong, London, Luxembourg, Bombay, New York City, San Francisco, São Paulo et Sydney, CPP Investments is governed and managed independently from the Canada Pension Plan and at arm’s length from governments. AT December 31, 2020, the Fund has totaled $ 475.7 billion. For more information, visit www.cppinvestments.com or follow us on LinkedIn, Facebook or Twitter.
About Acofi Gestion
As a fund management company, Acofi develops investment products and solutions that meet the needs of large institutional investors. Its initiatives, with more than 2.3 billion euros in assets under management, focus mainly on real estate assets and direct loans to the economy, covering four main themes: commercial real estate, infrastructure in the energy sector, specialized financing for industrial companies and the public. sector. Acofi Gestion, approved by the AMF since 1997, has been affiliated with the La Française Group (Crédit Mutuel Nord Europe group) since 2014. www.acofi.com
SOURCE Canada Pension Plan Investment Board
For further information: Steve McCool, Director, Corporate Communications, CPP Investments, +44 7780224245, [email protected]; For Acofi Gestion, Agence FARGO, Féten Ben Hariz: +33 (0) 6 16 83 64 06 – [email protected], Hana Company: +33 (0) 6 16 83 93 77 – [email protected]