CapitalBay announces two new funds and office in Hong Kong


CapitalBay is off the starting blocks with two open Spezial AIFs. CEO George Salden revealed to TD at the MIPIM real estate trade fair in Cannes that a care fund with a seed stock of €400mn and a micro fund with €100mn will come this year. As a regulated product, the Berlin company currently has one open-ended and one closed-ended Spezialfonds with residential properties in its portfolio. CapitalBay reports that these funds have so far raised €180mn and €20mn, respectively, in equity capital from institutional investors. After assets under management reached a volume of €3.5bn at the end of last year, Salden announced the company’s next target of €5bn. He will also be helped by money from overseas. “We want to become the gateway for global capital that invests in Germany”. Salden referred to the mandates of two unnamed Asian sovereign wealth funds, and announced the opening of a branch in Hong Kong.

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