Accord Group has raised $105m (€101m) for a fund which makes strategic investments alongside real estate managers in the US and Western Europe.
The global real estate strategic investment and capital advisory firm’s debut fund, Accord Catalyst Fund, has so far completed four investments, including investments in the US targeting multifamily properties in gateway markets and, UK deals involving retail-to-residential conversion and for-sale residential investments.
Desi Co, Accord Group’s managing partner and co-founder, said the fund was created to “catalyse the growth of real estate managers in the US and Western Europe by providing both strategic capital and capital advisory expertise”.
Co said: “The Accord Catalyst Fund is emblematic of our efforts to be in a long-term ‘accord’ with sponsors, by providing access to capital in an increasingly challenging and complex environment while serving as a trusted advisor on their strategic and operational needs through multiple cycles.
“By combining these capabilities, we aim to deliver to real estate managers a faster path to becoming a dominant player in their area of specialisation; for our investors, we aim to create a diversified portfolio of interests spanning an array of strategies, sectors, geographies and risk profiles.”
Paul Jackson, managing partner based in Accord Group’s London office, said the fund is comprised of institutional investors representing pension fund, sovereign wealth fund, and fund-of fund capital based in the US, UK and Europe.
Jackson said the fund’s investments are closely aligned with the firm’s thesis of focusing on high-quality real estate located in North America and Europe.
“In addition, our investors in the fund, along with our investee managers, are attracted to Accord’s commitment to ESG and responsible investing. We prioritise the positive commercial and social benefits of strategies that embrace ESG initiatives and are committed to being responsible investors and good stewards of the environment and our global community,” Jackson said.
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