LRI Group and Aggregate Debt Advisory GmbH launched an aggregate debt fund, focused on residential real estate development in Germany, with a target of €500 million.

The reserved alternative investment fund has an anticipated annual return of 6% to 8% and a term of up to seven years. It is aimed at pension funds, insurance companies and family offices and will initially be registered for distribution in Germany, Austria, Switzerland and Luxembourg.

LRI Invest SA will act as the alternative investment fund manager, while Aggregate will act as the investment adviser.