SCOR Investment Partners SE said it completed an initial closing of €500 million for its SCOR Real Estate Loans III fund.

The company said the fund is the third in a series of funds investing in real estate mortgages and leans toward financing assets under development, restructuring or repositioning.

The deal brings assets raised for SCOR Investment Partners' real estate loan activity since its launch in 2013 to €1.2 billion, the company noted.

SCOR Investment Partners is the portfolio management company of SCOR SE and, as of the end of 2016, managed a portfolio of €19.2 billion for the French reinsurer. The company also manages third-party assets amounting to more than €2.9 billion, as of the end of June.