- Signing of the joint venture agreement took place on 23 August in Zurich First fund construct from Gulf Islamic Investments for investments in high-yield property in Europe The platform launches various fund vehicles for investments in senior living projects with core-plus / value-add strategies A first tranche worth EUR 500 million will be placed in September, with first deployment planned for the fourth quarter of 2021 Geographic focus is on projects in Germany and potentially continental Europe
- Erstes Fondskonstrukt von Gulf Islamic Investments für Investitionen in ertragsstarke Immobilien in Europa
- Die Plattform legt verschiedene Fonds-Vehikel für Investitionen in Senior-Living-Projekte mit core-plus- / value-add-Strategien auf
- Im September wird eine erste Tranche im Wert von 500 Millionen Euro platziert, die erste Bereitstellung ist für das vierte Quartal 2021 geplant
- Der geographische Fokus liegt auf Projekten in Deutschland und potenziell in Kontinentaleuropa
Capital Bay Group, an internationally integrated asset manager, investment fund manager and cross-sector property developer, and Gulf Islamic Investments (GII), a leading global financial management company based in the United Arab Emirates, today announced the formation of a joint venture. As part of the joint venture, the two partners will establish a fund construct for investments in European senior living real estate with a focus on core-plus and value-add strategies. To this end, the Luxembourg-regulated platform is launching various funds and will place a first tranche totalling EUR 500 million in September of this year. It will primarily invest in profitable and fast-growing properties in Germany and potentially in other markets in continental Europe.
Rolf Engel, Group CFO of Capital Bay Group and CEO of Capital Bay Fund Management, Luxembourg, says: "The projected growth of the elderly population in Germany and Western Europe will also lead to increased demand for all forms of senior living, assisted living, healthcare and specialised clinics for the elderly in the future. At the same time, the German healthcare market is highly fragmented. The market is characterised by more than 2,000 operators and private investors who manage an average of two to three care homes at decentralised locations. This represents an enormous barrier to entry for investors from abroad. We are delighted that our platform and our network enable us to offer a successful and experienced global investor like GII the opportunity to enter and participate in this rapidly growing market segment. We are also creating a much-needed supply for this asset class."
Mohammed Alhassan, Founding Partner and Co-CEO of GII, commented: "This joint venture combines the significant capabilities of GII with the knowledge and experience of Capital Bay, making it an excellent example of cross-border synergies. Together we are developing attractive opportunities to invest in the European senior living property market, enabling our investors from the MENA region to participate in this highly sought-after asset class that would otherwise be difficult for them to access. We are excited to partner with Capital Bay and look forward to our two teams working together."
Pankaj Gupta, Founding Partner and Co-CEO of GII, added: "As part of our global growth strategy, we are delighted to partner with Capital Bay Group, a proven and trusted strategic partner who shares our investment ethos and long-term vision for the senior living asset class. Capital Bay is a European leader in healthcare property and enables us to efficiently expand and diversify our portfolio offering with excellent investment opportunities that guarantee both income and growth. We look forward to working together to significantly expand the platform and its fund offering over the long term."
George Salden, CEO of Capital Bay Group, added: "Our customised platform allows us to act locally for our society and our community by partnering with established international capital. We are delighted to have GII as a partner as they have a global and robust investment portfolio and are confident that our platform's offerings will deliver superior risk-adjusted returns to investors around the world. The joint venture's investment strategy is to invest primarily in manage-to-core and upgrade-to-core properties."
The platform's first offering is scheduled for completion in the fourth quarter of 2021 and will be financed by both debt and equity. With the aim of delivering superior returns, Capital Bay, with AUM of more than US$7bn, and Gulf Islamic Investments, with AUM of more than US$2bn, will be jointly responsible for all aspects of the platform, including investment strategy, portfolio and asset management and wealth management.
Under the following link you have access to press photos of the joint venture signing and the quoters as well as company logos: https://bit.ly/3kyUNOO https://bit.ly/3kyUNOO
Press contact Capital Bay Group:
RUECKERCONSULT GmbH
Lutz Ackermann, Christian Döring
About the Capital Bay Group
Email: capitalbay@rueckerconsult.de
Pressekontakt Gulf Islamic Investments
Natasha D’Souza
Email: communications@gii.ae
Über die Capital Bay Group
With its exclusive cooperation partner, 360 Operator GmbH, the Capital Bay Group also has access to a platform for the operational management of operator properties. The portfolio of the internationally active 360 Operator GmbH comprises over 70 properties with more than 10,000 units.
Über Gulf Islamic Investments
Gulf Islamic Investments LLC (GII) is one of the world's leading Shariah-compliant financial services firms. With more than US$2 billion in assets under management, GII strives to deliver superior returns and long-term value on behalf of its investors, shareholders, portfolio companies and the communities in which it invests. Led by a dedicated group of prominent shareholders and investors, GII deploys private capital across a variety of business sectors, including real estate, private equity and venture capital. GII's client network includes UHNWIs, family offices, banks, institutions and sovereign wealth funds in the GCC and Asia. GII is based in the United Arab Emirates and is regulated by the Securities and Commodities Authority (SCA).
