SCOR Investment Partners raises EUR 629 million with its SCOR Real Estate Loans IV fund
SCOR Investment Partners, the asset management company of the SCOR group, announces the final closing of the SCOR Real Estate Loans IV fund, having raised EUR 629 million in commitments. This new commercial success means that the firm has raised more than EUR 1.965 billion of assets since the launch of its real estate debt activity in 2013 (including senior and junior debt strategies).
The SCOR Real Estate Loans IV fund is the fourth generation of the asset manager’s senior real estate loan funds. The capital was raised from French institutional investors. Like its predecessors, the fund’s investment strategy remains positioned on value-add [1] transactions, with an emphasis on projects that aspire to the highest energy, environmental and well-being standards for their occupants.
Classified as Article 8 SFDR and designed to finance the office buildings of tomorrow, along with new uses and new lifestyles, the fund has adopted a sustainable investment charter [2] setting measurable non-financial objectives. With this strategy, SCOR Investment Partners is committed to:
- financing the real economy,
- improving the sustainability of real estate assets in France and elsewhere in Europe,
- financing projects that aim to accelerate the real estate sector’s environmental and energy transition,
- enabling institutional investors to create sustainable value by integrating non-financial criteria into its investment strategy, while maintaining an attractive risk/return profile.
As of September 15, 2021, the investment team has already invested 50% of the capital raised in 10 projects. 100% of the projects financed are sustainably oriented.
François de Varenne, Chief Executive Officer of SCOR Investment Partners, comments: “We are proud of this new commercial success which confirms our position as a key player in real estate debt. We have built our real estate financing activity on our longstanding experience of the market, on robust investment discipline, and on the conviction that investing in the “value-add” market segment is the best way to meet our investors’ needs in terms of returns and capital preservation, while actively participating in financing the energy transition. By financing the buildings of tomorrow, which use less energy as well as being more environmentally friendly and adapted to new uses, we are creating value for our investors. Together, we finance the sustainable development of our societies.”
SCOR Real Estate Loans IV
Classified as Article 8 SFDR, the SCOR Real Estate Loans IV fund is a French mutual securitization fund (FCT) investing in first-lien mortgage loans, primarily on the French market.
Key points:
• the fund focuses on financing value-add transactions;
• the fund focuses on assets benefiting from one or more environmental labels (immediately or on completion of the construction or renovation work);
• the fund is compliant with FPE (loan to the economy fund [3] criteria;
• the fund is exclusively invested in first-lien mortgages with a complete security package.
[1] “value-add” indicates real estate projects where the value of the assets involved may significantly increase. The "value-add" segment includes the construction, restructuring and renovations of buildings.
[2] the sustainable investment charter of the SCOR Real Estate Loans IV fund is available above.
[3] Investors should form their own opinion as to whether the Fund qualifies as an FPE “loan to the economy fund” based on the regulations applicable to FPE funds.