ACCENT FUND IV -
VALUE-ADDED COMMERCIAL REAL ESTATE

10% of Accent Capital
owners
participate
in investments

Only for qualified investors

Target yield 18-25 %
Recommended
investment amount
₽30 million+
Risk profile
Moderately aggressive risk profile

Investment targets and strategy

Investment target

The fund manager seeks to derive medium-term income for investors mainly from capital gains by direct and indirect investment in qualitative improvements of the existing commercial real estate and their cash flows for the purpose of selling them at a higher price.

Target returns
Level or leverage
Total to be repaid
(IRR, % per annum)
18-25%
Current
(Cash-on-Cash, % per annum)
1-1,5%
Multiplier
(TVPI, coefficient)
up to 1,3x

Target returns are determined solely by estimation, considering the potential investments of the fund based on our macroeconomic and market forecasts. They are not historical, promised or guaranteed and are specified net of all fees and before investor taxes.

Investment Strategy

Value-Added

Value-Added strategy style implies investing in existing property and improving it, including commercially and physically.

Strategy style Value-Added
Geography

Russia: Moscow, St. Petersburg

Sector Trading, Office, Logistics
Lot quality Investment (Classes A, B, where applicable)
Lot types malls and shopping malls, business centers, warehouses
Number of lots 3+
Tenants Market leaders
Leases Long-term, inseparable terms
Rent rates Inflation-indexed
Lot sizes ₽1 billion+
Currency Ruble (revenue, capital, debt)
Investing through Indirect ownership (equity and debt) and/or direct ownership (property)
Leverage (LTV, level) Acceptable up to 65% at the asset and/or fund level

Targets to be pursued by the manager to achieve the fund's investment goal are specified.

Fund details

Fund name ACCENT FUND IV - VALUE-ADDED COMMERCIAL REAL ESTATE CLOSED-END MIXED UNIT INVESTMENT FUND
Registration number and date

No. 3872 dated 03.10.2019 in the Register of the Bank of Russia

ISIN RU000A100WZ5
CFI CMCXXY
Target capital ₽8-20 billion
Target initial capital ₽1 billion
Co-investment manager 10% of capital (from fund manager owners)
Term of the fund until 29.12.2022; 2 years
Investment period 1 year (until the end of 2020)
Investors Only qualified
Targeted investors HNWI and institutional
Recommended investment ₽30 million+
Minimum investment ₽1 million (for new investors)
Current revenue Quarterly (if there are sufficient free balances)
Redemption of units up to 6 months after the expiration of the fund
Early repayment of equity units

Not provided (partial)

Corporate form Closed-end mixed unit investment fund
Fund manager ACCENT ASSET MANAGEMENT, LLC
Asset manager Accent Capital, LLC
Credit bank JSC Bank VTB
Specialized Depository JSC VTB Special Depository
Registrar JSC VTB Special Depository
Auditor Marillion LLC (Kreston International)
Fund appraisers Colliers, ILM and others