Rachel McGovern

The new vehicle includes investment by regulated German investors for the first time as well as allowing investors to recycle capital.

In a hotly anticipated decision, the European Securities and Markets Authority issued an opinion suggesting a pan-EU marketing passport be offered to Guernsey and Jersey while requesting more time to review the regulatory regimes of the US and other major PE domiciles.

The vehicle, supported by Aviva, will back both prime and regional real estate transactions with both whole and mezzanine loans.