Aukera secures €150 mln 'super senior' debt mandate

Essen-based owner-managed investment manager Aukera Real Estate has secured a new mandate for the real estate debt fund it advises to the tune of €150 mln. 

A German insurance company has provided the funds are to be invested in senior secured pan-European real estate loans with a conservative loan-to-value ratio of below 50% as part of a new investment strategy.

The fund is structured as a Luxembourg Sicav Raif and targets institutional investors from Germany, Austria and Switzerland.

Under the 'super-senior' strategy, the fund will invest in short-term, predominantly floating-rate, senior secured real estate loans in continental Europe as well as in the United Kingdom. The term of the mandate is seven years.

Markus Habbig, head of co-investments at Aukera, said: 'With the new strategy, we are broadening our investment universe and offering our clients the opportunity to invest broadly diversified in real estate loans from across Europe with a low risk-return profile.

'In the current volatile market environment, this conservative investment strategy offers the opportunity to invest in real-estate-secured loans with low loan-to-value ratios and to benefit from future interest rate developments.'

Aukera Real Estate, founded in 2020, will advise the AIFM Pandoo Management over the entire investment period.

The Essen-based investment boutique's services range from deal sourcing to due diligence and acquisitions as well as ongoing support and monitoring until the loans are repaid.

Hauck Aufhäuser Lampe Privatbank, Niederlassung Luxemburg acts as the fund's custodian bank.

With this new raise, Aukera has secured a total of over €1.3 bn in capital commitments for managed mandates since 2020. Assets under management stood at €1.01 bn as of the end of March.


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