Global institutions have backed Henderson Park’s debut real estate fund to raise $2.2bn (€1.9bn) at close, the manager announced today.
Henderson Park Real Estate Fund I (HPREF I) – which was seeded with a $500m commitment from Stone Point Capital, Kuwait Investment Authority and Wafra Investment Advisory Group – exceeded its $950m target to raise $2.2bn and has also secured an additional $750m of co-investment capital which has been deployed alongside the fund.
HPREF I was backed by a wide range of pension funds, insurance companies, sovereign wealth funds, endowments, family offices and high net worth individuals from across the globe, the manager said.
HPREF I aims to make equity commitments of between $50m and $150m per deal into value-add and opportunistic real estate investments across Europe.
The fund has a diversified investment strategy that can access transactions both directly, into real estate assets and portfolios, or indirectly, through corporate acquisitions.
HPREF I can invest in all asset classes but focuses primarily on hotels, offices, industrial and student housing, as well as multifamily.
The fund portfolio currently comprises 19 investments including the iconic Le Meridien Etoile and Westin Paris-Vendôme hotels in Paris.
Nick Weber, founding partner of Henderson Park, said: “To have attracted such strong support for our debut fund from such a wide-ranging and international pool of investors is a huge endorsement of the team we have built at Henderson Park, the deals we have already undertaken and the strategy we have set out.
“Over the past two years, we have been very targeted in our approach to investments. We have leveraged our team’s track record and network of operating partner relationships to build a significant portfolio of high-quality assets where we have identified the opportunity to create value.”