Charlemagne Plans to Raise $290M

LONDON -- Emerging markets investment manager Charlemagne Capital said Friday that it hoped to raise 200 million euros ($291 million) for a fund to invest in property developments in Brazil, Russia, India and China.

The fund will invest in the office, retail and residential property sectors and is targeting a blended internal rate of return of 30 percent, the company said.

Charlemagne Capital, which is listed on London's AIM exchange, did not specify whether the target was pure equity, or a combination of debt and equity.

"We believe the investment case for such a vehicle is ripe given that [Brazil, Russia, India and China] are in a period of sustained economic expansion with a substantial, and growing, need for modern physical property," the company said.

Charlemagne Capital said the fund would offer different structures for investment.