A diversifying asset class offering attractive upside potential
Real asset private debt offers significant benefits in the current environment:
- It represents an alternative to traditional investments and traditionally reduces portfolio volatility;
- It offers a wide range of potential yields depending on the investor’s appetite for risk;
- It represents a source of diversification for bond portfolios.
Headed by Laurent Belouze, who has over 20 years’ experience in financing infrastructure projects, and reports in to Natixis Asset Management’s fixed income division, the new real asset private debt area of expertise covers three complementary sectors considered to be high potential:
- Real estate, managed by Arnaud Heck, with 19 years’ experience in private debt management;
- Infrastructure, managed by Céline Tercier, with 19 years’ experience in private debt including 10 years in infrastructure;
- Aircraft, managed by Aymeric Angotti, with 14 years’ experience in the sector, including 5 years in aircraft structured finance.
By the end of 2016, Natixis Asset Management’s objective is to launch a comprehensive range of debt products: a second real estate debt fund of €750 million developed in collaboration with AEW Europe, Senior European Loan Fund II1, the first closing of which occurred in March 2016, an infrastructure debt fund denominated in dollars and euros, an aircraft debt fund and a junior debt fund invested in aircraft and/or real estate assets.
Ibrahima Kobar, Co-CIO in charge of fixed income products at Natixis Asset Management, says: “Natixis Asset Management is very ambitious for the new real asset private debt activity: by 2018, we aim to have close to three billion euros in assets under management and a dedicated team of fifteen specialists.”
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1 SELF I, a €323 million real estate debt fund, was launched in 2012 and fully invested in July 2015. Senior European Loan Fund II is a sub-fund of the Senior European Loan Fund SCA-SIF, a specialised investment fund under Luxembourg law, managed by AEW Luxembourg. Natixis Asset Management and AEW Europe acts as a consultant with AEWLuxembourg. The subscription and acquisition of interests in the Senior European Loan Fund are restricted to certain types of institutional investors who meet the definition of Well Informed Investors as set out in the Luxembourg Law of 13 February 2007 relating to specialised investment funds.
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The analyses and opinions referenced herein represent the subjective views of the author as referenced, are as of the mentioned date, and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.
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