Real Estate Credit Investments Limited

Name
Real Estate Credit Investments Limited
Manager
Cheyne Capital Management Ltd
Type
Closed Ended Investment Company
ISIN
GB00B0HW5366
Sector
Property - Debt
Launched
13/12/2005
OCF
1.69 %
3 Year Sharpe
1.16
Yield
7.1 %
Benchmark
Not Benchmarked
Fund Size
£ 334.66 million
NAV
168
Gearing
98
Discount Premium
4
The investment objective of the Company is to provide Ord Shareholders with attractive and stable returns, primarily in the form of quarterly dividends, by exposure to a diversified portfolio of real estate credit investments, predominantly comprising real estate loans and bonds. The Company invests and will continue to invest in real estate credit secured by commercial or residential properties in the UK and Western Europe. The Company may take different forms: (i) secured real estate loans, debentures or any other forms of debt instruments. Individual Secured Debt investments will have a weighted average life profile ranging from six months to 15 years. Investments in Secured Debt will also be directly or indirectly secured by one or more commercial or residential properties; (ii) listed debt securities and securitised tranches of real estate related debt securities; (iii) other direct or indirect opportunities, including equity participations in real estate.
Name
Cheyne Capital Management Ltd
Address
SW1A 1DH, London, United Kingdom
Legal Structure
Closed Ended Investment Company

Managers

Daniel Schuldes
Joined 03/31/2018
Arron Taggart
Joined 03/31/2018
Rafael Smadja
Joined 03/31/2018
Sa’ad Malik
Joined 03/31/2018

He is Head of Structured Credit with the real estate team. Prior to Cheyne in 2016, he founded Rhino Investment Management LLP in 2011, an FCA-authorised boutique investment and advisory firm, active in the European commercial real estate market. Among his responsibilities were strategy, origination, client management, structuring and execution. He previously worked for Lehman Brothers International (Europe) in 2004, and Credit Suisse Securities (Europe) Limited in 2005 where he was Director in their European Real Estate Finance & Securitisation area, and had a central role in building the Titan Europe CMBS platform. Sa’ad started his career in 2000 with Commerzbank Securities in Asset Backed Finance.

Ravi Stickney
Joined 10/19/2015

Ravi Stickney joined Cheyne in 2008, and is responsible for managing a portfolio of €500 million in direct commercial real estate mezzanine loans and CMBS spread across the UK and Europe. Previously he was on ING Bank's proprietary investments desk, with sole responsibility for managing a €400 million long / short portfolio of predominantly subordinate interests in European commercial real estate loans and CMBS. Prior to that, he was at Lehman Brothers, structuring and executing UK and European CMBS/RMBS and commercial real estate B loans and mezzanine loans. He acted as sole operating advisor to the restructuring and eventual sale of the first distressed UK CMBS deal. He continues to play an active role in the direction of various distressed European real estate loans. He began his career on the UK commercial real estate desk at Ernst & Young. He serves on the Executive Committee of the Commercial Mortgage Securities Association in Europe.

Richard Lang
Joined 06/25/2007

Data provided by Morningstar.

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Money Observer and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Morningstar. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.