AEW Europe has teamed up with a fixed-income asset manager which will oversee the AEW Senior European Loans Fund.
AEW Europe chief executive officer Christian Delaire said he could not name the partner until the manager gets a licence to operate for the Luxembourg-based fund in France.
“Our strategy is pure fixed- income senior lending and only core, good-quality loans,” he said.
The fund-raising target is €500m and he expected a first closing “soon with a group of three or four French investors”.
AEW’s Veronique Leblanc has been appointed head of credit and portfolio management for debt funds, working with colleague Guillaume Destruel.
The AEW fund will not originate loans but will partner with banks or buy good-quality secondary loans, focusing on France, Germany and the UK.