Fund databaseReal Estate

LeanVal Private Debt Fonds

LeanVal Asset Management AG, Frankfurt am Main · LI0435428979

ELTIF 2.0 Real Estate Liechtenstein Article 6 2 share classes ↓ Mezzanine / Subordinated

NAV · 30 Jun 20261,146.86 EUR
Fund currencyEUR
Income treatmentaccumulatingclass tracked, verified
Performance since Nov 2018 p.a.+1.8%Class EUR
Ongoing costs2.50% p.a.
Min. investmentEUR 1,146.86
Redemptionquarterly
Risk (SRI)4 / 7

01Performance

Unit price (NAV) in EUR · share class EUR · 92 data points

1,146.86 EURNAV as at 30 Jun 2026
1,0361,2551,4741,693Nov 2018Oct 2020Sep 2022Jul 2024Jun 2026
Source: Price feed from the management company 1 of 92 values derived (back-calculated from monthly returns)
YTD-28.2%
1 year-33.4%
3 years p.a.-7.9%
5 years p.a.-1.6%
since Nov 2018 p.a.+1.8%

Calendar-year returns

Calendar years, calculated from the NAV series

+8.1%2019+9.6%2020+8.6%2021+8.8%2022+7.4%2023+7.6%2024-1.8%2025-28.2%2026 YTD

Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and the trading costs of reinvestment are not taken into account. Past performance is not a reliable indicator of future results.

Provider figures

These come from the factsheet, the PRIIPs KID or the monthly report. They may relate to a different reference date, a different share class or a longer period than the series above — the series starts with the first documented unit price, not necessarily with the launch. That is why the values sometimes differ.

Performance 12M · as at 30 Jun 202633.36%
Since launch p.a. · as at 30 Jun 20260.50%

Target return per the provider: No quantified target return ('generation of a positive return and long-term capital growth'). PRIIPs scenarios Class EUR, EUR 10,000: moderate scenario EUR 10,870 after 1 year (+8.7 %) and EUR 18,290 after 8 years (+7.9 % p.a.); unfavourable EUR 9,100 (-9.0 %) and EUR 10,430 (+0.6 % p.a.); favourable EUR 13,640 (+36.4 %) and EUR 21,970 (+10.4 % p.a.); stress EUR 9,100 (-9.0 %) and EUR 8,830 (-1.6 % p.a.). Return before costs 11.3 % / after costs 7.2 %.

Source: KID LI0435428979 EUR, 23 Dec 2025

Provider figure or KID scenario — not a forecast by semiliquid.info. Target returns are not guaranteed.

02Strategy & portfolio

What the fund does and how the portfolio is put together.

Launch year2018
Fund sizeEUR 15mas at 30 Jun 2026
CurrencyEUR
Income treatment
SFDRArticle 6
Recommended holding8 yrs
Liquidity buffer
Leverage limit

Risk indicator 4 of 7 from the key information document (1 = low, 7 = high); it captures liquidity risks only to a limited extent.

Portfolio breakdown

Broken down using semiliquid’s common taxonomy — provider labels are mapped onto shared categories so that funds can be compared. Only published figures are used; nothing is estimated.

Sector breakdown

Approximation (qualitative)% of NAVas at 21 Aug 2026

ResidentialThe provider reports the portfolio as a single position — no finer breakdown is published.
Source: LeanVal Asset Management — Factsheet 30.06.2026 · Document

Geographic breakdown

Approximation (qualitative)% of NAVas at 21 Aug 2026

GermanyThe provider reports the portfolio as a single position — no finer breakdown is published.
Source: Fondsdokumente des Anbieters (KID/Prospekt/Präsentation), qualitative Angabe ohne Prozentwerte — Belegzitate in den Spalten 'Text: Sektorfokus' und 'Text: Regionenfokus'

Strategy

Mezzanine / Subordinated

Acquisition of bonds issued by property project companies with terms of between 12 and 60 months; focus on financing the acquisition of land for development projects as well as the purchase of real estate; predecessor fund 'Frankfurter Mezzanine Fonds' with approx. 8.31 % p.a. over 7 years (provider figure)

03Costs

The basis is the PRIIPs KID of the share class we track — which makes it comparable across providers.

Management fee1.50%
Total ongoing costs2.50%
Entry charge max.5.00%
Redemption fee0.00%
Performance fee9.00%
Hurdle ratenot documented
High-water markyes

In context: ongoing costs

This fund
2.50%
Median Real Estate
2.30%

Median across 5 funds in this asset class in our database, based on the PRIIPs KID. No statement about quality — cost structures differ depending on the strategy and on target-fund layers.

How the performance fee works

'The AIFM is entitled to receive performance-related remuneration on the increase in value of the unit value of the AIF, or of the respective share class, adjusted for any distributions or capital measures' – i.e. based on NAV/unit value per share class, with a high-water mark; no hurdle rate stated, no crystallisation cycle in the KID
Source: KID LI0435428979 EUR, 23 Dec 2025; Factsheet LI0435428979, 30 Jun 2026

Costs per the key information document

PRIIPs KID Class EUR (23 Dec 2025), investment of EUR 10,000: management fees and other administrative/operating costs 2.5 % p.a. (EUR 250) + transaction costs 0.2 % p.a. (EUR 20) + performance fees 0.8 % p.a. (EUR 80, average of the last five years). Total costs EUR 815 after 1 year, EUR 5,993 after 8 years. Annual impact of costs (reduction in yield): 8.2 % at 1 year, 4.1 % p.a. at 8 years (return 11.3 % before costs / 7.2 % after costs)
Source: KID LI0435428979 EUR, 23 Dec 2025

04Subscription & entry

How you get into the fund, and on what terms.

Subscriptionmonthly
Minimum investmentEUR 1,146.86
Entry chargeup to 5.00%
Rec. holding period8 years

Subscription per the document

monthly (valuation interval 'monthly/month-end')

Source: Factsheet LI0435428979, 30 Jun 2026

05Redemption & liquidity

Semi-liquid means redemption only on fixed dates, with notice periods and upper limits. This is how it works for this fund — in the order the redemption process runs.

Units can be redeemed quarterly; notice must be given 90 days before the date.

1 · Lock-upnone
2 · Notice period90 days before the date
3 · Redemption datequarterly
4 · Gatenot published
5 · Payoutnot documented

Redemption per the document

Quarterly – redemption dates 31 Mar / 30 Jun / 30 Sep / 31 Dec

Gate per the document

Not documented (redemption terms as per the sales documents)

Notice period

Not documented (for redemptions; for subscriptions T-15)

Lock-up

'This collective investment scheme has no minimum holding period but has been set up for a long-term investment. You should therefore be prepared to stay invested for at least 8 years.'

Source: KID LI0435428979 EUR, 23 Dec 2025

06Share classes

2 classes known. All cost and risk figures on this page apply to LI0435428979.

ISINStatusMin. investmentOngoing costsSRI
LI0435428979basis of this pagenot documented2.50%4/7
LI0435428987documentednot documentednot documentednot documented

Costs, minimum investment and risk can differ markedly by class — check the key information document of the specific class before subscribing.

07Fund details & verification

Who stands behind the fund, who it is authorised for — and what the figures rest on.

AIFM / management company

CAIAC Fund Management AG, Industriestraße 2, FL-9487 Bendern, Liechtenstein (fund management company/AIFM, supervised by the FMA Liechtenstein); portfolio manager: LeanVal Asset Management AG (LVAM AG), Frankfurt am Main, supervised by BaFin

Source: KID LI0435428979 EUR; Factsheet LI0435428979, 30 Jun 2026

Depositary

Kaiser Partner Privatbank AG

Source: KID LI0435428979 EUR; Factsheet LI0435428979, 30 Jun 2026

Launch date

The fund documents diverge from one another: the factsheet gives 1 Dec 2018 as the launch date for the Class EUR (initial issue price EUR 1,000), whereas the PRIIPs KID of 23 Dec 2025 gives 3 Nov 2018. Class CHF: 1 Feb 2025 (initial issue price CHF 1,000). The fund's term is expected to end on 31 Oct 2039 and can be extended twice by a maximum of 5 years each (at the AIFM's discretion).

Source: Factsheet LI0435428979, 30 Jun 2026; KID LI0435428979 EUR, 23 Dec 2025

BaFin database

Listed as “Leanval Private Debt Fonds“ · fund type: EU/foreign ELTIF, open-ended, all investors · ID 70172256

Source: BaFin investment-fund database, checked 17 Aug 2026

Eligible investors

'The fund is suitable for investors with an increased appetite for risk who accept high risks ... Retail investors are advised to invest only a small part of their overall investment portfolio in an ELTIF.' Marketing material for 'professional clients', 'retail clients' and 'eligible counterparties' pursuant to Paragraph 67 Abs. 2, 3 und 4 WpHG. Distribution authorisation: Germany and Liechtenstein

Source: KID LI0435428979 EUR; Factsheet LI0435428979, 30 Jun 2026

Distribution authorisation

According to the information available, authorised for distribution in Germany.

Fee layers / double charging

Fund level (portfolio management LeanVal Asset Management AG, Frankfurt; management company, risk management and depositary each remunerated separately). No master/feeder or target-fund structure documented; the mezzanine loans are advanced directly. Costs arising at the level of the financed property companies do not hit the fund as a fee (creditor position)

All figures come from our analysis of provider documents (product data as at 19 Aug 2026, distribution data as at 12 Aug 2026) and have not been conclusively verified.

Similar funds

Same asset class, sorted by overlap of sub-strategy — no recommendation, no ranking.

Important information. semiliquid.info does not provide investment advice and makes no recommendation to buy, sell or hold fund units — no ranking, no offer, no invitation to subscribe. Only the prospectus and the key information document (PRIIPs KID) of the respective fund are authoritative. We give no warranty for the accuracy, completeness or currency of the information. Semi-liquid funds invest in illiquid assets: redemptions are possible only to a limited extent and can be capped, deferred or suspended; there is a risk of total loss. Past performance is not a reliable indicator of future results. Read the prospectus and the key information document before making an investment decision and seek professional advice where appropriate.