CERES I
CERES is a Real Estate Food & Retail Fund.
Investment Sectors
Real Estate, Food & Retail
Strategy Overview
MAGNIFY has started the Food Retail Project in 2017, and has created a database of 46 locations, all in the Greater Metropolitan Area of Lisbon (Lisbon and Setubal districts), from which has selected the 9 locations that are now being developed by the Fund CERES I.
Minimum Ticket Size
€100,000
First Close Passed
Yes
Set Up Fee
0€ included
Management Fee
2.5% A nominal annual fee of 2.5% over the lower of the following reference amounts: (i) the aggregate subscribed and paid-up capital, or (ii) the value of the assets under management.
Performance Fee
40%
Target Annual Returns
0% For category C unit holders (GV investors), they have the right to receive, annually, its share of the gross income up to a maximum amount of 4.5% whilst the other unit holders (Category A) shall receive the full amount uncapped.
Target Returns Upon Exit
14% The fund seeks to achieve an annualized IRR, net of all fees and expenses, in excess of 14%.
Subscription Deadline
April 2024
Target Fundraise
€75,000,000
Month Established
October 2021
Fund Duration
10 years
US-investors (PFIC)
Yes
CERES I is a Real Estate based fund focused on the Food Retail business sector. The Food Retail sector, in the last 4 economic downturns since 1986, has proven to hold its performance better than most industries.
The fund is managed by a team with International experience in managing private equity funds and in developing retail units in Portugal.