Alternative asset manager, Cheyne Capital Management, has announced the opening of a new office in Paris. This will be the firm’s fifth office in Europe and its eighth globally, and reinforces Cheyne’s commitment to the French lending market.
Over the past four years, Cheyne has deployed close to €850 mln 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 commented: '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 m2 of low-rise office and leisure space, just 450 metres from the future Gare de Bagneux metro station and will meet high environmental standards.
Stuart Fiertz, co-founder, president & head of responsible investment at Cheyne Capital, added: 'Since 2018 we 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.'