Banor Special Situations

BANOR ALTERNATIVE ASSETS SPECIAL SITUATIONS (I & II)

LUXEMBOURG-BASED SICAV/RAIF FUND

Real estate investment opportunities.

FUND FEATURES

The Banor Special Situations (BSS) funds are closed-end funds for professional investors.
The funds provide access to its investors to a stream of special situations investments, with a particular focus on secured loans and/or real estate assets in prime locations, mainly in UK, Italy, and Spain.
Special situation investments can be mainly of 2 types: 1. underwriting of asset-backed debt (senior & subordinated), or 2. direct acquisition of real estate assets, at values and terms that we believe being substantially more attractive than in the open market.

SPECIAL SITUATIONS I: the BSS closed on 30 April 2019, with capital commitments of over €115 million.
SPECIAL SITUATIONS II: the BSSII closed on 31 March 2024, with capital commitments of over €245 million.

STRATEGY

The strategy focuses on single loans or assets with equity requirement typically between €5m and €30m per deal, which is a market segment with a reduced level of competition where we can originate attractive returns on a bilateral, off-market basis.
This approach allows us to identify and extract value on the basis of our own punctual credit and/or real estate analysis, and through our active management of every single investment.