Invesco, Ciloger form partnership for French fund launches

The pair are launching a range of pooled real estate vehicles known as OPCIs which have only recently been introduced in France.

Invesco Real Estate, the global cross-border property investment manager, and Ciloger, the French asset management company, have struck a partnership to launch several property vehicles called Organisme de Placement Collectif Immobilier (OPCIs).

According to a joint statement, the partnership between Invesco and Ciloger opens up pan-European property investment for both retail and institutional French investors.

Ciloger was the first fund manager in France to transform an existing fund into an OPCI following regulatory changes allowing their introduction in December 2006. OPCIs are viewed as more flexible structures than their predeccesor, SCPIs, giving French investors greater access to European property.

Invesco is acting as adviser for sourcing property investment opportunities, monitoring existing investments, asset management, debt strategies and structuring and providing investment advice on non-French real estate in Ciloger’s funds. The two companies will work together on the distribution of these funds to both retail and institutional investors. The partnership starts with their existing OPCI fund, which is currently being marketed to investors.

Invesco Real Estate will also be taking on the investment adviser role for pan-European assets outside France for Ciloger’s existing funds established under a different structure (SCPI’s).

Simon Redman, head of business development at Invesco, said: “This is a key partnership for both companies and more importantly for French investors who will be able to access opportunities in real estate not only on a pan-European basis but also globally for the French market.”