CB Richard Ellis Investors Global Multi Manager (GMM) has announced the launch of two new European Funds of Funds, the CB Richard Ellis Europe ex-UK Alpha Fund and the CB Richard Ellis Pan-European Alpha Plus Fund.
The Europe ex-UK Alpha Fund offers the opportunity to invest in a portfolio of best-in-class specialist core-plus real estate funds, providing a well diversified exposure to continental European real estate. The fund will target a total return of 8-10% per annum with low to moderate risk profile and an annual dividend yield of 5%. The fund is semi open-ended, providing annual redemptions after five years.
The CB Richard Ellis Pan-European Alpha Plus Fund will invest in a portfolio of best-in-class value-added and opportunistic real estate funds, providing a well diversified exposure to high alpha managers. The fund is targeting a total return of 11-14% per annum with a moderate to high risk profile. The fund is closed-ended with a ten year life.
The funds will be managed by an experienced specialist team at GMM and will be supported by the CB Richard Ellis global research and information network.
Commenting on the launch of the two funds, Jeremy Plummer, Managing Director of GMM, said: "Continental European property is ideally suited to UK pension funds seeking a well diversified exposure to the continental European market, accessed via best-in-class core-plus funds managed by leading local managers.
"Alpha Plus appeals to a broad range of investors seeking a diversified exposure to private equity style value-added and opportunistic funds, managed by proven high alpha managers."