First close of Revetas Fund I

First close of Revetas Fund I

Revetas Capital Advisors LLP (‘Revetas’), a specialist real estate investment advisor focused on over-leveraged, distressed and under-performing opportunities in Central and Eastern Europe, announces today the successful first closing of the CEE-focused real estate fund, Revetas Capital Recovery Fund I L.P. (‘the Fund’).

Commenting on the announcement, Mr. Assimakopoulos said: “This is a very significant steps for Revetas. The Fund has raised over half of its target capital and is well on its way towards achieving its target. This  validates our decision to launch a specialist advisory firm capable of taking advantage of the substantial pool of over-leveraged and underperforming real estate assets in the CEE region. For many institutions who control such properties, Revetas’ expertise represents an increasingly attractive solution to the structural problems in the region’s real estate market left over from the financial crisis.

Revetas is based in London and is regulated by the UK Financial Conduct Authority (FCA), while the Fund is regulated by the Guernsey Financial Services Commission (GFSC) and is a qualifying investor fund. Revetas has offices in UK (London), Slovakia (Bratislava), Romania (Bucharest), Austria (Vienna) and Poland (Krakow).

The Fund is targeting leading banks, investors and real estate owners in the CEE region to recapitalize, restructure, and de-lever their distressed real estate assets by combining its strong access to capital with a highly-experienced management team which has been active in the region for over a decade. Typically the Fund aims to acquire assets which are in need both of active asset management, and additional capital for building and tenant improvements.