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Pictet Alternative Advisors launches real estate fund

Pictet Alternative Advisors (PAA) is targeting European real estate with the launch of its latest fund for professional investors.

The fund is aimed at investing in direct property assets in “smart and gateway European cities.”

These cities are “at the forefront of economic digitalisation and enjoy favourable demographics from strong urbanisation trends”, according to the business.

Managed by a 14-person team, the Pictet Real Estate Capital Elevation Fund I SCSp, or Elevation I fund, will follow a “value-led investment and management strategy”.

The Elevation I team will be headed by Zsolt Kolhami, global head of real estate and co-CEO of PAA, who has more than 20 years’ experience managing private real estate investment.

“Europe is currently the most attractive global market for real estate investment on a risk-adjusted basis. It has stable cap rates due to continued low interest rates and has finally started seeing rental growth,” he said.

According to Kolhami, “volatility in Europe in the coming years” is expected to “provide interesting entry point opportunities”.

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