Coinvesting Capital launches evergreen UAE RE fund
16 DEC 2025
Jin Ni
Coinvesting Capital launches evergreen UAE RE fund
DIFC, Lux-registered vehicle to hold $100m first close in Feb 2026
Targeting core, value-add and selective distressed UAE assets
Fund managed by former 4F MD Michael Ruben, ex-BIL regional CEO Eddy Abramo
Dubai-based manager Coinvesting Capital has teamed up with real estate consultant BreadCapital to launch the UAE’s first institutional real estate fund, With Intelligence has learned.
Coinvesting Bread Real Estate Fund will target core, value-add and selective distressedassets in residential (40%), commercial (40%) and logistics (20%) sectors in the UAE.
It is understood that marketing began mid-November, and the DIFC-registered vehicle sofar has raised $10m. The firms are also expecting an additional $50m in commitments fromEuropean family offices and LPs via its Luxembourg-based feeder fund within the next 12 to18 months.
A first close will be held in February 2026.
In its bid to be the first in the region to provide institutionalized access to Emirati realestate opportunities, Coinvesting and Bread are courting investors with a defensivestrategy, diversified across incomes, lease profiles and sub-areas in Dubai, Abu Dhabi andother emirates.
According to documents seen by With, deal sizes will range around $100k, with a focus onacquiring both stabilized and off-plan floor or semi-floor units.
Assets will be evaluated along a 100-point rating system, taking into account bothqualitative and quantitative factors such as yield, liquidity, absorption rate and weightedaverage unexpired lease term.
The strategy aims to generate target net IRRs of 12% to 15%, with a minimum yearly couponof 6% for investors from year two onwards.
Capital will be deployed through SPVs, categorized by asset type: stabilized, refurbished oroff-plan assets. LTV will be capped at 50% per SPV.
Subscriptions for start at $50k for master fund and $100k for the feeder fund.
Abu Dhabi-based Bread Capital will act as the GP and strategic advisor for the fund, leadingsourcing, scoring and portfolio construction. Bread will also look after propertymanagement and development details for acquired assets where necessary.
The firm was founded in 2025 by ex-4F managing director Michael Ruben, regional realestate developer Steve Benchimol and Pure Salmon marketing officer David Szerer.
Dubai-based Coinvesting Capital will be responsible for KYC, compliance, risk managementand operations, including acquisitions and investor reporting. Former Banque Internationaleà Luxembourg (BIL) regional CEO Eddy Abramo founded the firm in 2018 to provideadvisory and asset management services to DIFC clientele.
Abramo will oversee fund management for the vehicle.
Coinvesting Capital and Bread Capital declined to comment.
16 DEC 2025
Jin Ni
With. Intelligence / S&P Global
