Edmond de Rothschild launches AI-backed fund

The Edmond de Rothschild group and its subsidiary OROX Asset Management have set up a new fund that partly uses artificial intelligence to identify the most attractive investment opportunities in key European cities. Smart Estate Fund 1 SCSP focuses on new real estate trends in continental Europe. It combines traditional research and expertise with a proprietary tool to source deals. The tool, an algorithm based on more than 8,000 economic, urban, social and financial variables, can analyse complex market conditions. It was designed by Swiss-based fintech firm AAAccell, a spin-off from the University of Zurich. The fund signed its first deal in March, acquiring a vacant office building in Levallois-Perret, near Paris. It plans to reposition the 27,000 sq ft office into a headquarters building. Caroline Demol, investment advisor of Smart Estate, said: “We are very happy to have entered the Paris market because the rates of vacancy on restructured or new buildings are very low. “This exposure has been made possible through the collaboration with Valream, who supported us in winning our tender.” To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette