Alternative investment fund manager FundRock is expanding into the alternative real estate sector in France.
The firm will help international investors gain access to alternative asset classes in the country through a new alternative investment fund manager, FundRock France AM.
FundRock already manages funds in France using the Freedom to Provide Services (FPS) passport regime, but says it wants to “bolster its presence.”
Jean Edouard Mazery, who developed Twenty-First Capital’s real estate fund management business and its €2bn (£1.7bn) in assets, is helping spearhead the venture. Mazery will be based in Luxembourg pending approval for the operation from French financial regulator the Autorité des Marchés Financiers.
“The timing of our expansion reflects increasing demand from international investors wishing to put capital to work in French alternative asset classes,” said FundRock chief executive Xavier Parain, adding the country has “solid economic fundamentals and a supportive legal and regulatory framework” that is helping open private equity and real estate opportunities.