Duet on song for first listed mezzanine fund

摘要

Duet Private Equity is planning to float the UK's first listed real estate mezzanine debt fund later this year. The fund, Duet Real Estate Finance, will aim fora gross internal rate of return of 15%, Duet Private Equity said on Wednesday. It plans to raise ￡100m, at a price of lOOp a share. It will invest the net proceeds into parent company Duet Croup's unlisted €100m European Real Estate Debt Fund, which provides debt for income-producing commercial real estate assets, primarily in the UK and Germany.