Cheyne Capital opens new Paris office

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Alternative asset manager Cheyne Capital Management (UK) (Cheyne) has opened a new office in Paris – the firm’s fifth office in Europe and its eighth globally.

Stuart Fiertz, Co-Founder, President & Head of Responsible Investment at Cheyne Capital, says: “Since 2018, our private credit investment teams have continued to see more and more interesting opportunities in Europe and particularly in France, so opening an office in Paris was the natural next step. Being in close proximity to those we finance is important to us and we look forward to growing our presence in the country further.”

Over the past four years, Cheyne Real Estate has deployed close to EUR850 million in France through 14 real estate loans. The opening of a Paris office will support origination and improve the team’s access to attractive lending opportunities in the region, ultimately enabling the continued growth of its presence in this key market.

Raphael Smadja, Head of French Real Estate at Cheyne Capital, adds: “We recognised several years ago that the opportunity set for senior and mezzanine real estate lending in France was growing rapidly, so we have built a team that is able to capitalise on this, combining excellent local knowledge with expertise in investing across the capital structure. That we are now launching a Paris office is indicative of the success the team has had to date, and the confidence that we have in our ability to continue to strengthen our position in this market and realise value for our investors.”

The Paris-based team has also announced its most recent transaction, in which it provided a senior loan to an office development in Bagneux. The project, acquired by Hemisphere and Bain Capital, will deliver almost 15,000 sq m of low-rise office and leisure space, just 450m from the future Gare de Bagneux metro station and will meet high environmental standards.
 
Earlier in the year, Cheyne was named Private Debt Investor’s Real Estate Debt Manager of the Year, Europe, as well as Real Estate Capital’s Alternative Lender of the Year in France for a second consecutive year. The firm’s Colisée investment was also named Financing Deal of the Year: France

Franck Laval, Managing Director of Cheyne Strategic Value Credit, will also be based in the Paris office. Cheyne Strategic Value Credit Fund I has already committed approximately EUR140 million to French investments. France is a core geography for the strategy which helps strong businesses facing liquidity challenges to survive and preserve jobs through measures such as consensual restructuring or provision of rescue financing.

Franck Laval, Managing Director of Cheyne Strategic Value Credit says: “France is a key market where we have a positive experience of supporting companies through difficult periods and helping them thrive. With a strong pipeline of local opportunities, now seems like a sensible time to make a formal commitment to the region.”