Hammes Partners has raised $430m (€397m) for a US healthcare real estate fund.

The private equity firm said the final close of its $430m Hammes Partners II attracted $130m more than the company had initially targeted.

Endowments, foundations, pension funds, insurance companies, funds of funds and family offices backed the fund.

Todd Kibler, principal at the Wisconsin-based company, said: “Healthcare real estate has performed consistently throughout economic cycles, and the macro healthcare industry trends present a compelling investment opportunity for institutional investors.”

The platform is focused on the US outpatient healthcare real estate market.

The fund will invest in existing assets, development projects and adaptive reuse opportunities. 

For more on the US healthcare sector, click here