At the end of Q1 2019, German investor Helaba Invest increased its stake in the Altera Vastgoed Retail Fund on behalf of several institutional customers.
After the initial investment in Q4 2018, Helaba Invest reaffirmed its confidence in the Altera Retail Fund with an additional investment in the first quarter of 2019. The Altera Retail Fund has been active since 2000. It currently has approximately €650 million in assets under management and a strong shareholder base numbering more than 26 institutional investors. Heleba Invest’s entry into the fund is in line with Altera’s strategy to expand the shareholder base and make it more international in scope.
Jaap van der Bijl, CEO of Altera: “Helaba Invest’s second closing is a real boost for our Retail Fund and for us as a manager. We are very pleased that Helaba Invest, which is a major institutional investor in Germany, has decided to reaffirm its confidence in us with this second investment. It’s a real motivation for us to take the following steps, not only in terms of fund raising but also with regard to acquisitions in the convenience retail sector. We see clear opportunities in both areas in the next few quarters.”
CBRE Capital Advisors acted as the placement agent for Altera Vastgoed.
Barbara Maltha-Koppelman, CBRE Capital Advisors: “The second investment by Helaba Invest shows that they have confidence in Altera as a manager along with confidence in the Altera Retail Fund strategy.”
Altera intends to expand the Food & Convenience Retail strategy further in the years to come. The fund’s objective is to achieve a relatively high direct return with stable expected yields for institutional investors pursuing a long-term investment horizon.
In addition, the 0% leverage strategy means that the fund falls within the lowest risk category under Solvency II, meaning only limited buffer capital is required.