Aermont Capital has raised €3.8bn for its fifth European real estate fund.
The manager said the amount raised for the Aermont Capital Real Estate Fund V at close exceeded the fund’s initial €3bn target and also exceeds the €2bn raised for its fourth European real estate fund in October 2018.
Aermont said Fund V investors include some of the most prominent public and private pension plans, sovereign wealth funds and other institutions from Europe, North America, the Middle East and Asia.
As previously reported, New York State Teachers’ Retirement System and Texas County & District Retirement System committed €270m and €70m respectively to Aermont Capital’s fifth European value-add real estate fund.
European manager Aermont is known for targeting large complex investments that offer long‐term value-creation opportunities for both the associated assets and businesses.
Fund V, which seeks transactions that can produce a mid-teens net internal rate of return, will be investing in major property types in Western Europe.
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