Alternative asset manager Cheyne Capital Management is to open a new office in Paris, its fifth office in Europe and eighth world-wide.
Cheyne’s said the move underlines its commitment to the French lending market. The firm has deployed about €850 million in France in the past four years in 14 property loans and said in a statement that a Paris office will support origination and improve the team’s access to attractive lending opportunities.
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.”
Among its latest deals the Paris team has provided a senior loan for an office development in Bagneux, acquired by Hemisphere and Bain Capital. The 15,000 sq m low-rise office and leisure projects, close to the future Gare de Bagneux metro station, will meet high environmental standards.