Luxembourg-based Reech AIM is set to slide out a first-in-class newcits real estate fund, the Glacier fund, on the back o
Luxembourg-based Reech AIM is set to slide out a first-in-class newcits real estate fund, the Glacier fund, on the back of its successful non-Ucits Iceberg fund on September 15th. “Most sectoral real estate funds are equity-based,” the firm’s founder and CEO, Christophe Reech (pictured), told Hedgeweek. “But we’ll be using all financial instruments (REITS, CFDs, property derivatives etc).” Although declining to comment on the amount of seed capital, Reech indicated that it would be significant having attracted interest from various European institutions. The fund’s capacity is EUR800 million. “The fund has a global mandate but at the beginning the focus will be on Europe where most of the money is at the door,” adds Reech. Pictet will be co-sponsors, providing all back-end and custodial support, with Goldman Sachs used for any products with implied leverage. “We’re not trend followers, the UCITS buzz doesn’t interest me,” concludes Reech. “Glacier is not a perfect replication but takes its inspiration from Iceberg and follows a similar investment strategy.”
