Oliver Smiddy
Aviva Investors has become the latest group to launch a commercial real estate debt fund focused on opportunities in the UK.
The German insurer’s investment arm has launched an emerging market debt platform which will be led by Greg Saichin.
Dunedin has refinanced the debt it provided alongside equity to back the buyout of Trustmarque last month.
The UK-listed firm raised €560m in third party capital in Q2.
The UK-listed manager provided a unitranche facility as well as an equity co-investment.
Roger Cozzi, who joined the asset manager earlier this year, will manage the $700m vehicle.
When LBO France handed over the keys to French building materials group Terreal this week to the company’s lenders, there were eerie echoes of another French deal – PAI Partners’ loss of Monier back in 2009.
Cornerstone’s new hire will report to European head Charles Weeks.
The asset manager’s fledgling team will provide €157m to a French PFI project.
Restructurings in France are seldom easy, but Park Square and ING managed to achieve consensus amongst fellow lenders, shareholders and management.