MIMCO Group Launches Makers Fund, a Pan-European ELTIF 2.0 Real Estate Fund Open to Retail Investors From €1,000

MIMCO Group, a pan-European real estate investment and asset management company, has launched Makers fund, its first fund for retail investors, the firm announced Sept. 15 from Luxembourg and Paris. The fund is a Luxembourg SICAV authorized as an ELTIF 2.0 and accepts investments from €1,000.

Makers fund is intended to give individual investors access to a diversified European real estate strategy and to assets with characteristics comparable to those typically targeted by professional investors, in return for the risks inherent in any real estate investment, according to the firm. It marks a step beyond MIMCO's existing products, which are reserved for professional investors.

MIMCO Group's Makers Fund: Structure and Terms

The fund is established as a Luxembourg SICAV (UCI Part II) and authorized as an ELTIF 2.0, the revised European long-term investment fund framework designed to make private-market investments more accessible to individual investors while preserving requirements on eligible assets, diversification, liquidity, investor information and risk management.

Key terms announced by MIMCO include:

• Minimum investment: €1,000.
• Subscription fee: 0%, although other fees apply to the investment.
• Share classes: distributing shares, which aim to pay monthly income, and accumulating shares, which allow returns to be reinvested.
• Lock-up: a three-year lock-up period, after which redemption requests are subject to the conditions, limits, time frames and any fees set out in the prospectus and are not guaranteed.
• Recommended holding period: eight years.
• Liquidity allocation: 10% to 25% of assets, which does not guarantee that redemption requests will be met.
• Risk profile: an SRI rating of 3 out of 7 on the European risk scale, and classification under Article 8 of the SFDR.

The fund is marketed in Luxembourg, France, Spain and Germany through wealth management advisers or via direct online subscription. It is eligible for direct registration in the investor's name, for individuals and legal entities, as well as for securities accounts and Luxembourg and European Union life insurance and capitalisation contracts.

Investment Strategy: Core/Core+ and Value-Added

Makers fund's strategy rests on two complementary drivers. A Core/Core+ allocation is designed to generate recurring rental income from high-quality assets and tenants, while a Value-Added allocation comprises assets with transformation potential, whose revaluation is intended to contribute to performance. MIMCO said this combination draws on the experience the group has acquired through its real estate transactions over the past ten years.

The portfolio is designed to be diversified across offices, residential, hospitality, retail and mixed-use assets. According to MIMCO, combining multiple segments and markets provides exposure to a range of economic and sector dynamics while limiting dependence on any single performance driver. The fund aims to build a portfolio of institutional-quality European real estate assets selected in accordance with the criteria set out in its investment policy.

MIMCO Asset Management, part of the MIMCO Group, acts as sub-distributor and portfolio manager for the distribution of Makers fund and for the selection, structuring and monitoring of its investments. The announcement does not identify individual properties, purchase prices, leverage levels or other property-level transaction details.

Target Returns and Risk Disclosures

Makers fund targets an internal rate of return (IRR) of 10% per year over eight years and an annual distribution of 6%, paid monthly. MIMCO described these targets as indicative and not guaranteed. The firm said the investment entails a risk of capital loss and illiquidity, and that actual results will depend, in particular, on market developments and the holding period.

MIMCO's disclosures also cite risks specific to real estate assets and a risk related to the use of leverage. Redemptions may be limited, deferred or suspended, there is no organized secondary market, and distributions may be reduced, deferred or suspended. The firm said the targets are based on market assumptions adopted by the management company when the fund was established.

Digital Subscription Platform

The fund is supported by an end-to-end subscription and management platform at makers-fund.com. Users can create an account, complete online identity verification (KYC), take the suitability test and sign electronically. They then have permanent access to documents, reports and distribution tracking through a personal account. Wealth management advisers have a dedicated dashboard to manage subscriptions and monitor their clients.

Market Context and Rationale

MIMCO said real estate investment continues to attract interest from French savers despite a property market environment that has become more complex, particularly in terms of sourcing and asset selection. After several years of price correction, European real estate is entering a new market phase, in MIMCO's view, with the adjustment in valuations and changes in the interest-rate environment creating new opportunities, particularly in institutional-quality assets.

The firm also pointed to residential property prices, difficulties in accessing credit and financing, reduced transaction flows and a limited supply of quality assets as headwinds preventing retail investors from accessing property ownership and prompting them to consider alternative real estate investments.

"By launching Makers fund, we aim to give retail investors access to strategies and assets previously reserved primarily for professional investors, at a time when we are identifying new opportunities in the European real estate market," said Christophe Nadal, co-founder and CEO of MIMCO Group.

Nadal added that the group's presence across France, Luxembourg, Germany, Spain and Portugal, with teams on the ground, enables it to source assets before they reach the intermediated market. "Our expertise and track record allow us to manage these assets on a day-to-day basis; this adaptability and the quality of our monitoring are what set us apart," he said.

About MIMCO Group

Founded in 2016, MIMCO is a pan-European investment group specializing in the structuring, investment and management of real estate assets, with a longstanding focus on value-added strategies. The group acts on behalf of institutional investors, family offices, financial investment advisers and private banks, and has more than 60 employees in France, Luxembourg, Germany, Spain and Portugal.

MIMCO reported approximately €2 billion of assets under management in 2025 and €227 million of fundraising, up 60.1% from 2024. Its website subsequently cited more than €2.4 billion of real estate assets managed across its structures. The difference between the figures may reflect growth during 2026, differing measurement dates or differing definitions of assets managed.

MIMCO's website distinguishes among its entities. MIMCO Capital is a Luxembourg-incorporated company that is not regulated and offers investment solutions including Mercureim EF1, Everest One, BUILDIM 19 and OCITY, with funds reserved for professional investors. MIMCO Asset Management is a French asset management company regulated by the AMF and manages the funds MIMCO Grand-Ducal, MIMCO Revitalize and MIMCO Green Value, which are reserved for professional investors and those treated as professionals in France.

Outlook

Makers fund enters a growing European market for lower-minimum private-market products, combining a €1,000 entry point, cross-border distribution in four countries, digital access and a targeted monthly income distribution. Its long-term orientation, three-year lock-up and eight-year recommended holding period mean investors should expect limited liquidity relative to publicly traded real estate companies or exchange-traded funds. Before subscribing, investors are directed to read the prospectus and the Key Information Document (KID/PRIIPs), available at makers-fund.com/documentation.

Sources

• MIMCO Capital press release: MIMCO launches Makers fund, its pan-European ELTIF 2.0 real estate fund accessible from €1,000