Aerium Launches $161M Retail Fund

PARIS-European fund management group Aerium has launched a new fund to invest up to $161 million in prime retail real estate opportunities in France. It aims to raise up to $80.5 million in equity for the new Aerium Vendome I Fund, which will come under the group’s umbrella Special Opportunities Fund. With gearing, it expects to have double this amount to invest.

The fund will target a rate of return of 9%-11% after all fees, and aims to pay a quarterly income distribution of 5%-6% of contributed capital. CB Richard Ellis will act as placement agent on behalf of Aerium. The fund’s investment strategy will focus on retail properties in and around Paris and on high-street and edge-of-town units in the main regional centers with large catchment zones and a successful retailing history.