21 April 2011 - Gide Loyrette Nouel advises investment manager UFG REM on setting up the UFG European Fund of Funds:

Gide Loyrette Nouel (GLN) has advised UFG REM (UFG-LFP Group) on the setting-up and structuring of its UFG European Fund of Funds, structured as a real estate contractual corporate fund (SICAV contractuelle) governed by French law.

The UFG European Fund of Funds is the first real estate investment fund with a non-listed core/core+ profile and targets French institutional investors wishing to diversify their portfolio by gaining exposure to the wider European property market outside France. The closed-ended fund will have a life term of 7-10 years, with initial capital of EUR 23 million, and will comprise office and retail real estate assets in Northern Europe, in particular in Scandinavia, the United Kingdom, Germany and the Netherlands.

UFG European Fund of Funds promoters were advised by partner Stéphane Puel and senior associate Antoine Sarailler from the GLN's Investment Funds team, in addition to partner Laurent Modave and senior associate Bertrand Jouanneau from the GLN's Tax department.