Aviva Investors completes two senior debt facilities totalling £26.7 million

(London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), announces that it has provided two senior debt facilities to the alternative investment arm of the Pictet Group, the global wealth manager, along with its joint venture partners Marchmont Investment Management, and Pinnacle Investments, totalling £9.7million and £17.0 million respectively.

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The financings, both of which are secured over five-year terms, have been made on behalf of external client mandates managed by Aviva Investors.

The first facility is a fixed-rate financing secured against a portfolio of last-mile industrial assets across London and the South East of England with a weighted average unexpired lease term (WAULT) of approximately 2.25 years.

The second facility is secured against two Private Rented Sector (PRS) blocks acquired by Pictet in summer 2020, located in East London, totalling 70 units and providing one- and two- bed apartments at market rental rates. Financed on a floating rate basis, the facility is linked to SONIA and is one of the first such facilities completed by Aviva Investors using the LIBOR replacement.

Gregor Bamert, Head of Real Estate Debt at Aviva Investors, said:

“We are really pleased to have started a lending relationship with Pictet and its partners, particularly in two sectors where we continue to see good prospects for resilience and growth. Pictet has demonstrated its excellent asset management credentials over the last two centuries and, in its joint venture partners, has sector experts that actively manage their assets. As a global wealth manager, we believe it is closely-aligned to the capital available from our client mandates and we look forward to growing the relationship further. These facilities show investment opportunities remain, particularly in sectors that can match strong capital with good operating partners.”

Edward Jackson, Senior Investment Professional at Pictet Alternative Advisors, added:

“We’re delighted to get these financings in place for two key UK investment strategies in the residential PRS and last-mile logistics sectors, for our pan European value-add fund. Aviva’s support and flexibility during these exceptional times has had a positive impact on our target returns, and we hope to continue the relationship as we expand these portfolios.”

For more information contact:

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James Morgan

Media Relations Manager

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Steve Ainger

Head of Media Relations

Important information

The information and opinions contained in this document are for use by the financial press and media only. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice. 

The press release is provided on the basis that Aviva Investors Global Services Limited is not causing the communication of a financial promotion under exemption of the Financial Promotion Order, as Aviva Investors Global Services Limited has no control over the way in which an article based on this press release is prepared and published by the financial press and media. 

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 29 March 2021. Unless stated otherwise any views, opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature.  The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. 

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Aviva Investors

Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £366 billion in assets as at 31 December 2020.

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