The bank managed by Yves Mirabaud, will participate in the financing of the urban renewal of Paris via a dedicated investment fund with the help of a former French minister.
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The Geneva private bank Mirabaud will participate in the financing of the urban renewal of Paris via a dedicated investment fund with the help of a former French minister.
Mirabaud Asset Management has already raised 60 million euros on behalf of the Mirabaud Grand Paris investment fund, launched at the end of September 2019, which plans to raise 300 million in total, the daily reported. Time in its Monday edition.
The establishment can count on the support of Renaud Dutreil, former French minister responsible for SMEs between 2002 and 2007, and who has been responsible for the bank’s private markets for two years.
The fund under Luxembourg law, which targets a pre-tax and cost return of 20%, intends to invest 100 million euros per year and “support the execution of real estate operations near transport infrastructure,” said Olivier Seux, investment manager at Mirabaud Asset Management, quoted by the French daily.
The aim is to support French property developers Nexity, Bouygues, Vinci and Kaufmann & Broad. Investors are international, mainly institutional and sovereign wealth funds, but also family offices.
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