GSK Stockmann provided comprehensive advice to the French real estate investment advisor company ATLAS RE Capital SAS on the establishment of a Luxembourg reserved alternative investment fund (RAIF) with three compartments investing in real estate assets. The RAIF is denominated “ATLAS Re Skyline | SCS, SICAF-RAF”; the fund raising is expected to be launched in July 2026.
ATLAS RE Capital SAS is an independent institutional French real estate investment advisor company in Paris which intends to set up a Luxembourg reserved alternative investment fund (RAIF) with three compartments investing in real estate assets. They will act as investment advisor for each compartment and, as such, will identify real estate assets for each compartment in the European mid-market — discounted or in need of transformation.
The initial target size of the RAIF is around EUR 200 million in assets under management. The first compartment shall capture discounted assets in situations of dislocation, the second compartment shall carry out their transformation and ESG upgrading, while the third compartment shall stabilise and hold core operating assets over the long term. All three compartments shall qualify as financial products that promote environmental and/or social characteristics according to Article 8 of the SFDR.
Ocorian Fund Management (Luxembourg) S.à r.l. acts as alternative investment fund manager (AIFM) of the RAIF. JPMorgan Luxembourg will act as custodian bank.
A GSK Stockmann team led by Luxembourg-based partner Marcus Peter advised ATLAS RE Capital SAS. Advice included setting up the corporate structure of the RAIF, developing and reviewing all service provider agreements, negotiating with service providers as well as advising on general issues relating to investment fund and tax law.
Legal advisers of ATLAS RE Capital SAS:
GSK Stockmann (Luxembourg law):
Marcus Peter (Lead Partner, Investment Funds), Michael Kirsch (Senior Associate, Investment Funds), Eric Babaud, Maximilian Hangler-Garulo (both Counsel, Tax), Nekita Durmishi (Associate, Tax)
