Alantra launches RED II, a €200M European real estate debt fund focused on refinancing and capital preservation while financing top‑tier property sponsors.
Independent financial services firm Alantra has launched Alteralia Real Estate Debt Fund II (RED II), a new European real estate debt vehicle targeting €200 million. The fund builds on the success of RED I—which has returned nearly two‑thirds of its capital to investors—and expands Alantra Private Debt’s push into property financing across core European markets.
RED II is designed to provide flexible financing solutions to owners and sponsors of high‑quality real estate assets, with an emphasis on capital preservation and steady income distributions. The fund comes at a time when traditional bank lending is more constrained, creating refinancing opportunities that non‑bank lenders like Alantra are well placed to exploit.
Alantra says RED II will maintain a disciplined investment approach: moderate leverage, strong mortgage protections and broad diversification across asset types, countries and transactions. The firm already manages a European real estate portfolio exceeding €500 million and reports several deals at advanced stages, positioning RED II to deploy capital quickly where refinancing or structured debt solutions are needed.
Alantra Asset Management’s Private Debt team—backed by local offices in Spain, France and Italy—offers a range of debt products including direct corporate loans, real estate debt and flexible capital solutions. More broadly, Alantra Asset Management provides access to five alternative asset classes for the SME market, and through partners such as Access Capital Partners and Amchor IS it can offer co‑investments, funds of funds and secondary private equity and infrastructure opportunities.
Market observers say funds like RED II are increasingly important for sponsors seeking non‑bank liquidity and for investors hunting yield in a cautious market. With a conservative underwriting stance and prior fund performance, Alantra aims to position RED II as a go‑to financing vehicle for top‑tier sponsors across Europe.
