M&G INVESTMENTS HOLDS FINAL CLOSE ON OVERSUBSCRIBED FUNDS WITH FIRSTAVENUE AS GLOBAL PLACEMENT AGENT

March 2014

LONDON/NEW YORK - FIRSTavenue, a leading global private placement agent and advisory firm, is pleased to announce the final closing of M&G Real Estate Debt Funds II and III, which were raised simultaneously. The funds closed at a combined £1.35 billion, exceeding their £1.0 billion target. Fund II, which focuses on European mezzanine real estate debt, closed at £605 million and Fund III, which focuses on European stretch senior real estate debt, closed at £750 million. The funds attracted commitments from a diversified global group of investors, with FIRSTavenue serving as the sole global placement agent.

"M&G is one of the premier names in the real estate market and FIRSTavenue is privileged to partner with them on their successful fundraises," commented Paul Buckley, Founder and Managing Partner of FIRSTavenue. "We look forward to continuing our relationship with the entire M&G team and wish them and their investors much success. We also congratulate M&G being named Private Debt Investor's "European Real Estate Debt Manager of the Year," he added.

"As investors started exploring this new asset class, the FIRSTavenue team understood our strategy and guided us through the fundraising process. They provided a marketing plan that they executed quickly and thoroughly and the investors responded positively. Both junior funds combined with the discretionary capital available for us for the senior mortgage strategy, gives us tremendous firepower to lend across the whole capital structure," commented John Barakat, head of real estate finance at M&G Investments. "We are pleased with the support and enthusiasm we received from both new and existing limited partners and their affiliated pension consultants, and look forward to working with them in the years to come."

About M&G
M&G is an international active asset manager, investing on behalf of individuals and institutions for over 80 years. At 31 December 2013 the firm manages £244 billion of assets through a wide range of investment strategies across equities, fixed income, property and multi asset. Headquartered in London, M&G employs over 1,800 people worldwide operating from offices across Europe and Asia. M&G was one of the first major institutions to identify the investment opportunity in real estate finance, deploying M&G's significant resources in credit, where the firm has over 170 investment professionals, of which 20 are dedicated to real estate finance. For more information on M&G, please visit www.mandg.co.uk

About FIRSTavenue
Founded in 2006, FIRSTavenue is a leading independent global placement agent and advisory firm dedicated to raising capital for a distinguished group of alternative asset managers across private credit, private equity, real assets and real estate in developed and emerging markets. With an experienced team of over 50 professionals located in London, New York, San Francisco, Cleveland and Sydney, FIRSTavenue provides global distribution and accessibility to an extensive network of institutional investors. For more information on FIRSTavenue, please visit www.firstavenue.com

Contact:
Paul Buckley, Managing Partner
FIRSTavenue, London
+44 20 7016 6601
pbuckley@firstavenue.com

M&G INVESTMENTS HOLDS FINAL CLOSE ON OVERSUBSCRIBED FUNDS WITH FIRSTAVENUE AS GLOBAL PLACEMENT AGENT

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