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Purpose of the Fund is to acquire (from banks or funds), single names or small portions of real estate loans relating to complex secured real estate transactions, according to a cherry picking approach
The Investment Manager, ZEST SA (“ZEST”), is a successful independent asset and wealth Management Company based in Lugano with a strong entrepreneurial approach and has identified HERA Holding S.p.A. (“HERA”) as the Funds’ NPE Advisor
The management team of the Fund has a strong track record in the asset management, private equity and real estate industries
Consolidated banking relationships of both ZEST and HERA will also ensure a very interesting transactions’ pipeline
NPL COMPOSITION FOR ECONOMIC MACRO-SECTOR
Investment Company with variable capital, qualifying as a reserved alternative investment fund (“RAIF”)
the Fund is managed by its managing general partner, HERA ZEST NPE GP (the “General Partner”)
The General Partner has appointed LEMANIK ASSET MANAGEMENT S.A. (“LEMANIK”) as alternative investment manager of the Fund (the “AIFM”)
ZEST Is the Investment Manager
Hera is the risk and due diligence advisor (“NPE Advisor)
AQA is the Global distributor of the HERA ZEST NPE FUND
The loans will be acquired through an Italian securitization vehicle ex art 130
TRACK RECORD Deal 1
Region: Emilia Romagna
Building surface: 4,469.20 sqm
Operation description: Ancient building used for recreational use. The recovery project includes commercial spaces on the ground floor and first floor. Second, third and fourth floor will be dedicated to new luxury apartments, with large terraces, fine re-finishes and state-of-the-art equipment.
Héra intervention: Business Plan preparation, property purchase, project management, management and completion of works and asset commercialization.
Purchase of NPL credit: 40% of nominal value
IRR Investment (8Y maturity): 10%
TRACK RECORD Deal 2
Region: Emilia Romagna
Area: mq 26.000,00
Operation description: residential complex composed of 50 villas with large gardens, 54 apartments and 5 building land.
Héra intervention: Business Plan preparation, vehicle constitution and purchase of the bankrupted asset, project management, works’ direction and completion, asset commercialization.
Purchase of NPL credit: 30% of nominal value
Equity: €6.300K per person
IRR Investment (duration 8Y): 15%