Talisman Global Asset Management and

Cambridge Place Investment Management have launched the co-managed Talisman/CPIM European Debt
Opportunity fund, seeded with capital commitments of €50 million ($80 million). The fund will target a net return of between 12 and 15 per cent with a closed ended five year life.

The fund will invest in a range of European commercial mortgage-backed securities, real estate, residential mortgage-backed securities and other asset-backed security classes. The idea is to benefit from the current market dislocations in the European markets.

Domiciled in the
Cayman Islands, the fund has no plans at present for listing. Target investors will be worldwide with a minimum investment of €5 million or equivalent. The fund has a maximum size of €500 million. Citi will act as prime broker.

Talisman, founded in 1952 by the William Pears Group and Pears family trusts, owns properties and investments with a value in excess of €7.5 billion. Talisman Global Asset Management is the family office for the Pears brothers, managing their non-direct property assets of €1.5 billion.

Founded in 2002, CPIM is part of a global investment management group concentrating on the structured finance product  market. The group has gross AUM of approximately €5.2 billion across various investment platforms.