Paris-based real estate boutique F&A Asset Management has announced the official launch of the F&A High Street Retail fund that was opened to investors last March.
The strategy focuses on prime high street retail shops and has an investment capacity of €160m. A total of seven acquisitions have been completed so far, six of which were made in Paris and one in Cannes nearby the Croisette, for around €30m.
Some €40m of assets are yet to be added as exclusive negotiations are ongoing for new acquisitions.
F&A Asset Management, founded by ex-Schroders property manager Maxime Forgeot, has set a target of raising €150m from institutional investors and doubling the investment size of the fund to €300m.
It seeks to manage some €1bn of assets by 2022 and has plans to diversify property assets it invests in.