Investment strategies

Vertically integrated asset management

 

Tezis’s investment team has a 20-year plus track record of successfully investing in European credit and real estate.

 

Our unique business model combines two complementary arms: fund management and local asset management.

Tezis has invested more than €10 billion over the last 20 years across over 1,500 investments in a broad range of European credit and real estate opportunities, achieving strong risk-adjusted returns with consistent performance and attractive diversification.

Tezis’s pan-European asset management and servicing platforms service a significant portion of the assets for both Tezis and its fund and investment management business, as well as for third-party clients such as other investment managers and banks. We have approximately €90 billion of Assets Under Management, of which €14 billion is related to real estate assets. Our best-in-class local servicing capabilities enable a unique granular ability to access new investments, only available with local presence and knowledge, thus allowing us to grow our fund management operations.

 

*Marketing arrangements: Investors are hereby informed that the Fund is no longer registered and that all relevant marketing arrangements of the Fund have been terminated.

Tezis Credit Opportunities

 

Tezis’s proprietary investment strategy is strategically positioned to capitalise on European non-performing loans (NPLs), non-core banking assets, and select real estate-related assets acquired from distressed situations. This approach takes advantage of Tezis’s extensive network and local expertise, offering a unique entry into an attractive investment market.

 

Opportunistic Credit Strategy

Tezis’s investment strategy is designed to focus on opportunistic, off-market opportunities within its core European geographies. By leveraging a distinctive business model and partnering with local credit servicers, Tezis ensures an exclusive pipeline of off-market deals. This not only provides a local knowledge advantage but also enhances its capability to selectively access and manage assets effectively.

Market Opportunity

Europe presents a large, fragmented market characterised by historical inefficiencies that produce a high volume of non-core and non-performing credit assets. The market is ripe for the investment into secondary market volumes, where other NPL managers look to divest their portfolios in search of liquidity. Additionally, the current economic climate of elevated interest rates and refinancing pressures contributes to localised market dislocations, increasing the demand for liquidity and creating further opportunities for Tezis.

Platform and Track Record

As a leading pan-European asset manager, Tezis boasts a strong track record in private debt management. With 22 asset management and servicing platforms across seven countries, and approximately €90 billion in assets under management, Tezis’s operational footprint is supported by over 2,000 professionals. This extensive network underpins Tezis’s operational efficacy and market reach.

Competitive Advantage

Tezis’s local platform franchise model is perfectly suited to exploit these market opportunities. With over a decade of experience in identifying platforms that offer access to high-value, niche market areas, Tezis’s strategy is predicated on granular, local sourcing. This approach, coupled with strong on-the-ground origination capabilities and robust local relationships, ensures strong risk-adjusted returns.

 

Tezis Lending Opportunities

 

Tezis’s proprietary strategy in the lending sector focuses on primary secured credit opportunities within the living sector across its European geographies. By offering full-life-cycle real estate lending solutions, Tezis addresses the capital needs of the real estate sector with a flexible approach tailored to deliver market-leading, risk-adjusted returns. Embedded specific ESG considerations ensure responsible decision-making throughout the process.

 

Lending Strategy

Tezis targets proprietary, secured credit opportunities specifically within the living sector, believing its flexible approach is well-suited to meet the evolving capital demands of the real estate market. The strategy is designed not only to solve financial needs but also to provide consistent, market-leading risk-adjusted returns with ESG considerations at the forefront of every decision.

Market Opportunity

The European real estate sector presents attractive financing opportunities for high-quality borrowers, especially given the current retreat and regulation of banks. Supportive macro tailwinds in the living sector boost demand for new developments and refurbishment projects. Moreover, a high base rate passed on to borrowers and lower loan-to-value ratios contribute to the attractiveness of the returns.

Platform and Track Record

As a leading pan-European asset manager, Tezis boasts a significant track record in private credit, lending, and real estate. With 14 specialised real estate and lending platforms and over 25 investment professionals, Tezis ensures strong sourcing and execution capabilities, backed by stringent credit discipline. Over the past decade, Tezis has invested €15 billion in the sector.

Competitive Advantage

Tezis’s local sourcing and strong relationships enable differentiated on-the-ground origination capabilities. Its senior management team, with over 20 years of experience, and a differentiated offering position Tezis as a one-stop-shop for borrowers throughout the entire lifecycle of real estate projects.

 

Tezis Real Estate Opportunities

 

Tezis’s real estate strategy is centred on generating opportunistic returns by acquiring granular, off-the-run properties that offer significant value-add and repositioning potential. These properties are often sourced from stressed sponsors or lenders, capitalising on the unique market conditions to secure valuable investments.

 

Real Estate Strategy

Tezis focuses on acquiring properties that have meaningful potential for value addition and repositioning, aiming to generate high returns. These transactions are sourced locally through Tezis’s own platforms, allowing for a granular approach to each investment. This strategy is designed to capitalise on the unique opportunities that arise from market dislocations and stressed real estate assets.

Market Opportunity

The current higher rate environment presents significant downward valuation pressure and liquidity challenges, leading to increasing instances of distressed properties. Despite these challenges, the operating fundamentals remain strong across Tezis’s target sectors, which include Residential, Last Mile Logistics, Leisure, and Hospitality. These sectors continue to benefit from strong demand and limited supply, underpinning the attractiveness and viability of investments.

Platform and Track Record

Tezis has been a prominent player in the European real estate market for approximately 20 years, managing around €90 billion in assets. With 22 locally based platforms, including 14 that are real estate-focused, Tezis facilitates effective sourcing, transaction execution, and business plan oversight. This infrastructure supports Tezis’s proven track record in European real estate investing.

Competitive Advantage

Tezis’s local platforms provide on-the-ground origination capabilities, essential for accessing and capitalising on market-specific opportunities. Tezis’s extensive experience in workouts and restructuring, gained through its history as a distressed investor, and its highly experienced senior investment team, further enhance its competitive position in the market.