- FIRST AGREEMENT IN ITALY FOR SECONDARIES MARKET TRANSACTIONAL PLATFORM
- THE UNITHOLDERS OF RESERVED FUNDS UNDER PRELIOS SGR MANAGEMENT WILL BE ABLE TO USE SECONDCAP SERVICES ON A PREFERENTIAL BASIS, INCREASING THE LIQUIDITY OF THEIR INVESTMENTS
Milan, 03 July 2014 – Prelios SGR, the company of Prelios Group operating in asset management, entered into an agreement with Secondcap Ltd, an FCA regulated company managing a transactional platform for the sale and purchase of fund interests with a network of over 400 international investors allowing a significant increase of liquidity for private real estate funds.
“We developed an innovative partnership” explained Paolo Scordino, CEO of Prelios SGR, “that enables us to open a privileged channel for our clients, increasing the liquidity of their investments. Accessing a more buoyant market means being able to seize more opportunities to increase the investment value faster and at lower costs”.
“Liquidity issues represent one of the major problems of the Private Funds market” mentioned François Gamblin, CEO of Secondcap based in London. We provide to the sellers a full transparent but anonymous solution during the transaction process, and an immediate access to a global and diversified network of buyers. We are extremely proud to offer our services to Prelios and its clients through this unique partnership.”
By this agreement, Secondcap will make available its platform of international investors and its support services on more favourable terms to the exclusive advantage of unitholders of the reserved funds managed by Prelios SGR, that can increase the liquidity of their units as well as the value of their investments even before the fund natural expiry.
Secondcap enters the Italian real estate market, having access to one of the most important portfolios of real estate funds, with a value of about 3.7 billion euro and extending its offering to its network of investors.
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Prelios SGR is one of the leading Italian real estate fund management companies. The value of asset under management (AuM) is equal to nearly 3.7 billion euro (at 30 June 2013), divided into 25 funds (3 of which established in the first quarter of 2014). Nearly 36% of fund investors are financial institutes and investment funds, nearly 19% are corporate clients, and the residual part includes foundations and pension funds, insurance companies, public entities and retail investors. Prelios SGR manages about 1,700 properties, located primarily in Rome and the province of Rome (28%), Milan and the province of Milan (21%), and Turin (10%). The asset classes most representative of the properties under Prelios SGR management are the following: office (44%), industrial and logistics (25%), retail & entertainment (19%) and residential (nearly 7%).
Secondcap provides liquidity solutions in the secondary market for investors in private funds Secondcap’s proprietary private funds secondaries platform, SecondaryNet®, has developped one of the largest and diverse networks of LPs globally. As a unique technology solution, SecondaryNet® centralises the secondary transaction process, providing best execution at a lower cost, whilst preserving LPs confidentiality. More than 1 billion USD of funds interests have been listed for sale since SecondaryNet® launched in late 2011.
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For further information:
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Per ulteriori informazioni:
Ufficio Stampa Prelios SGR Secondcap Ltd
Tel. +39/02/6281.41571 Anthony Marquié
pressoffice@preliossgr.com Managing Director
Investor Relations Prelios Tel. +44 (0) 203 096 274
Tel. +39/02/6281.4104 press@secondcap.com
ir@prelios.com www.secondcap.com