Fund bets on 'low debt, attractive, and stable income' commercial assets
Desjardins Group’s investment arm has launched a private fund, targeting "low debt, attractive, and stable income" commercial real estate properties.
The DGAM Canadian Private Real Estate Fund was launched with an initial portfolio valued at over $300 million. This initial investment will prioritize investments in multi-residential buildings, industrial spaces, and shopping malls.
“DGAM's responsible investment practices are applied across all of the fund's processes, including those for analyzing opportunities and acquiring or managing assets,” the bank said in a press release.
The fund will be managed by Tony Roy, vice president and head of real estate investments, under the direction of Frédéric Angers, vice president and chief investment officer, private markets.
Roy, a seasoned professional with over 26 years of experience, will head the fund's management team of 10 investment professionals based in Montreal, Lévis, and Toronto.
"Desjardins Global Asset Management's new real estate fund offers growth opportunities and stability, allowing investors to participate in the dynamic Canadian commercial real estate market, which is popular with major institutional investors,” said Nicolas Richard, who will serve as president and chief operating officer of DGAM. “We're proud to launch this fund, as it enhances our private market offering, showcases our expertise and reflects our commitment to our clients."
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Desjardins Group – the largest cooperative financial group in North America and the fifth largest globally – backs the fund. As of March 31, its assets exceeded $435.8 billion. Desjardins offers various financial products and services through its distribution network, online platforms, and subsidiaries across Canada.
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