Chenavari's CRED Fund Receives ELTIF Approval for Decarbonisation

France-based Chenavari Asset Management announced that its Chenavari Real Estate Decarbonisation Fund (CRED) received the ELTIF 2 approval from the French Financial Markets Authority (AMF). CRED is focused on financing the energy transition of commercial real estate in Europe, including countries like France, Germany, Benelux, Italy, and Spain. The fund aims to reduce the carbon footprint of buildings by financing renovation and energy performance improvement projects. Current senior value-add financing operations in France offer gross yields of approximately 7% with a Loan-to-Value (LTV) ratio of around 55%. The ELTIF 2 approval allows a broader range of European professional investors to access this mortgage debt strategy, aligning with their ESG commitments.