An Australian institution is among a group of investors backing Rockspring’s latest UK value fund.

Five investors from the UK, Europe and Australia have backed the UK Value 2 fund, which had its third close with £150m committed, Rockspring said.

The fund is now halfway to its targeted equity raise. With leverage, the fund has a portfolio target of £600m.

In June this year, Rockspring was hired by AustralianSuper to run its direct office and retail real estate investment strategy across continental Europe. AustralianSuper, the largest superannuatioin scheme in Australia with AUS$6bn (€4.14bn) dollars in assets, is seeking to diversify its real estate portfolio into global markets.

Rockspring also said it had acquired Bramley Shopping Centre in Leeds and Guildhall, an office and retail investment in Glasgow, for a total of £47.5m.

The former was acquired from NewRiver Retail for £18.5m and the latter was bought from Redevco for £29m.

Richard Bains, Rockspring partner and fund manager of the UK Value series, said the firm was “actively identifying further properties”.

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