Toronto-based CI Institutional Asset Management (CIIAM), a division of CI Investments Inc., on Wednesday announced the launch of CI Global Private Real Estate Fund, which is targeted at high net-worth (HNW) investors and smaller Canadian institutions, in association with CBRE Global Investment Partners (CBRE GIP).

Specifically, these investors will now be able to gain exposure to CBRE Global Investment Partners Global Alpha Fund, an open-ended fund with direct investments in more than 1,900 properties in North America, Europe and the Asia-Pacific region, through the new fund.

“Through CI Global Private Real Estate Fund, we are pleased to offer Canadian investors access to the expertise of a leading global real estate firm and exposure to an investment strategy that has posted exceptional risk-adjusted returns since its inception,” says Neal Kerr, president of CIIAM, in a statement.

CI Global Private Real Estate Fund will invest indirectly in units of CBRE Global Investment Partners Global Alpha Fund, which has investments in retail, logistical and residential properties in more than 20 countries representing a combined net asset value of US$2 billion. CBRE Global Investment Partners Global Alpha Fund has an objective to deliver stable dividend income of 4%-5% a year and a net total return of 9%-11% annually (in local currency) over a market cycle.

CBRE GIP, a division of CBRE Global Investors that has more than US$15 billion in assets under management, manages CBRE Global Investment Partners Global Alpha Fund actively. CBRE GIP’s team follows a value-oriented approach with a focus on relatively high-income yields and predictable cash flows.

CI Global Private Real Estate Fund, which is offered on an exempt basis, is now available to permitted clients with a minimum investment of US$2 million (Class I units) and to accredited investors with a minimum investment of US$150,000 (Class F units) through registered dealers.