Focus Estate Fund announced its restructuring into a Luxembourg-based Alternative Investment Fund today, marking a significant shift in its operational framework and setting ambitious growth targets for the near future. Since its inception in 2016, the fund has specialized in investing in convenience retail within the value-added sector across Europe. With a portfolio boasting 10 retail buildings and a total Gross Leasable Area (GLA) of approximately 120,000 sqm, Focus Estate Fund now sets its sights on doubling in size by the end of 2024 through leveraging its existing equity commitments.
Strategic Restructuring and Ambitious Goals
Maxim Shkolnik, General Partner of Focus Estate Fund, emphasized the importance of transparency and investor protection in the fund’s operations. The fund’s diligent oversight at the asset level, bolstered by a long-standing collaboration with BNP Paribas, showcases its commitment to rigorous scrutiny. With the establishment of an Alternative Investment Fund Manager (AIFM) registered with the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, and aided by Creatrust for critical Anti-Money Laundering (AML) functions and compliance obligations, Focus Estate Fund is poised for robust growth. Shkolnik highlighted the multi-tiered control system in place, ensuring efficient risk and asset management, accounting, and compliance, thereby enhancing investor transparency and security.
Partnership with Creatrust for Enhanced Fund Administration
For its central fund administration, Focus Estate Fund has partnered with Creatrust, a leading service provider in Luxembourg. Creatrust will assist Focus Estate Fund in various administrative functions, including accounting, Net Asset Value (NAV) calculation, and tax compliance. Moreover, Creatrust will provide access to the FundNav® online fintech platform, streamlining the onboarding and KYC processes for investors, facilitating the review of portfolio statements, and enabling efficient capital calls, NAV approvals, reporting, and sharing of documentation.
Setting Sights on Future Growth and Innovation
In its pursuit of growth, Focus Estate Fund is leveraging Luxembourg’s favorable regulatory environment and its partnership with Creatrust to ensure a high level of compliance and operational efficiency. This strategic restructuring not only underscores the fund’s commitment to transparency and investor protection but also positions it for significant expansion and success in the European retail real estate market. By doubling its portfolio size by the end of 2024, Focus Estate Fund aims to capitalize on its niche in convenience retail, promising a bright future for its investors.
This strategic move by Focus Estate Fund not only demonstrates its adaptability and forward-thinking approach but also highlights Luxembourg’s appeal as a premier destination for fund and asset management in Europe. As Focus Estate Fund embarks on this new chapter, the implications for the European retail real estate sector and investment community are profound, suggesting a trend towards greater transparency, enhanced investor protections, and ambitious growth strategies in the industry.
