La Française REM holds first close on €150m

The Paris-based asset manager has corralled institutional capital for a senior real estate lending vehicle having set up a platform last year.

La Française Asset Management, the French investment asset group majority owned by Crédit Mutuel Nord Europe, is more than a third of the way towards reaching its €400 million target for a senior real estate debt fund.

The Paris-based firm has revealed it has achieved capital commitments of €150 million in a first close of the fund, with limited partners being institutional investors including insurers.