Investments

General risk disclosure

No investment advice or public offer

This website is provided solely for general information and to facilitate a confidential initial consultation. It is not a public offer, prospectus, investment advice, personal recommendation or solicitation to acquire or dispose of a financial instrument.

Only the contractual, risk and investor documentation supplied for a specific investment is authoritative. Prospective investors should obtain their own legal, tax and financial advice before making a decision.

Material general risks

Partial or total loss of capital

The economic success of a project is uncertain. Adverse developments may reduce distributions, prevent repayment or result in the total loss of invested capital.

Illiquidity and long holding periods

Interests and project investments may be difficult or impossible to sell early, and an established secondary market may not exist. Capital may remain committed for longer than expected.

Property market and valuation risks

Property values are affected by the economy, location, demand, regulation, condition and other factors. Valuations are estimates and may differ from an achievable sale price.

Vacancy, rental and operator risks

Tenants or operators may default, decline to renew agreements or fail to meet obligations. Vacancy, lower rents or higher operating expenses may impair income and value.

Financing, leverage and interest-rate risks

Higher interest rates, tighter lending conditions, refinancing difficulties or breaches of financing covenants may impair viability. Leverage can amplify both gains and losses.

Construction and development risks

Planning delays, cost increases, supply shortages, defects, contamination or insolvency of involved businesses may affect schedule, budget and project success.

Insolvency and project-company risks

Insolvency of a project company, counterparty, tenant, operator or service provider may cause significant loss. Claims may be subordinated, unsecured or not fully enforceable.

No guaranteed return

Past results, projections and targets are not reliable indicators of future results. Distributions and repayments may differ materially or fail entirely.

Individual assessment

The nature and extent of risk depends on the specific structure. Access requirements, appropriateness and suitability are assessed individually where required. Prospective investors should invest only if they understand and can bear the risks and do not require short-term access to the invested capital.