CBRE Global Investors has attracted €140m of new equity for its European Industrial Fund, with investors entering the fund through secondary transactions.

Three new investors and two existing investors in the fund made new commitments to the fund.

The fund, which invests in prime European logistics assets, has a seed portfolio of €465m. CBRE Global Investors said it was aiming to grow the fund to €800m over the next three to four years.

CBRE Global Investors said the fund had been relaunched with a more modern structure that would make it “more efficient” and able to “offer more attractive terms and conditions” to investors. A more modern and robust governance framework has also been put in place with an aligned fee structure.

Mike Clarke, CBRE Global’s head of EMEA investor services, said the recapitalisation of the fund was a “clear indication of the increase in liquidity provided for investors through secondary trading”.

The announcement comes a few months after it was revealed that investors had bought into another restructured CBRE Global Investors fund via the secondary market. Clarke said there had also been “significant secondary transactions” in its Dutch office fund.

The secondaries market is enjoying growing momentum. In July, IP Real Estate reported on StepStone’s acquisition of secondaries investor Clairvue Capital, as well as the final close of Aberdeen Asset Management’s secondaries fund of funds. In Italy, Prelios teamed up with secondaries specialist to increase trading of positions in its funds.

In July, Francois Gamblin chief executive of Secondcap, told IP Real Estate it was “quite logical” to expect the real estate fund secondary market to eventually “have the same kind of turnover to private equity”.