TERMS & GOVERNANCE
Institutional structure, local execution and regulated oversight.
Vega Constellation Iberia Opportunities Fund I is structured for well-informed investors seeking access to secured Spanish real estate credit opportunities through a Luxembourg RAIF framework, supported by specialist operating expertise and external AIFM oversight.
€250k
Minimum investment
1.20%
Management fee for Early Birds
15%
Performance fee above 8% hurdle
7 yrs
Fund term plus extensions
OVERVIEW
The structure is designed to support an illiquid, specialist credit strategy.
The Fund invests in illiquid assets, mainly secured loans and real estate collateral, and should be understood as a long-term investment.
This page brings together the practical investor terms, fund structure, operating team, governance counterparties and legal context. The complete basis for any investment decision remains the final subscription documentation and Private Placement Memorandum.
Fund terms
Key terms for well-informed investors.
The following terms are indicative and should be read together with the full PPM and final subscription documentation. Target size, final closing and NAV calculations have been omitted from this website version by request.
Fund name
Vega Constellation Sicav-Raif SCA
Iberia Opportunities Fund I
Reference currency
EUR
AIFM
IRE AIFM S.à.r.l.
CSSF-regulated
General Partner
Vega Constellation Management S.à.r.l.
Fund Administrator
Alcyon S.A.
Fund Auditor
Atwell Luxembourg
Fund Custodian
Creand - Banque de Patrimoines Privés
Eligibility
Well-informed investors
Qualified and professional investors
Minimum investment
€250,000
Management fee
1.20%
Early Birds
Target returns
15-16%
Net of fees
Performance fee / Hurdle
15% above 8% hurdle
European waterfall with GP catch-up · Early Birds
Entry fee
0.5% to 3%
Fund term
7 years
+ 2 discretionary annual extensions
Investment period
3 years from First Closing
Harvesting period
4 years
+ 2 annual extensions
Investor eligibility
Reserved for investors able to assess a specialist alternative strategy.
Iberia Opportunities Fund I is reserved for well-informed investors under Luxembourg law, including institutional and professional investors, and other investors who satisfy the required criteria.
01
Investor status
The Fund is reserved for well-informed investors, including institutional investors, professional investors and qualifying investors who confirm their status in writing.
02
Minimum commitment
The website terms state a minimum investment of €250,000. Luxembourg well-informed investor rules may also refer to a lower legal threshold subject to the applicable conditions.
03
Long-term investment
Investors should be able to accept exposure to illiquid assets, including secured loans and real estate collateral, and assess the strategy as a long-term investment.
NEXT STEP
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