A team led by Partner Michel Bulach and Director Michael Mbayi and which was including namely Charlotte Tarquinio assisted RBS International Luxembourg to sign a new subscription line with a maximum facility size of EUR 300 million with NREP Income+ Fund.
NREP Income+ Fund is an evergreen fund that launched in September 2020 and is expected to reach EUR 1 billion of commitments during the first quarter of 2021. It is an open-ended, core-plus, Nordic real estate investment strategy, focussed on modern living, logistics and care homes. The facility is designed to provide operational flexibility to the fund and works seamlessly with the full suite of RBS International services, including banking, depositary and FX.
This transaction was particularly interesting as subscription facilities are still relatively uncommon for open-ended vehicles.
Wildgen assisted RBS International Luxembourg as Luxembourg law counsel. Travers Smith was lead counsel.