Baumont Real Estate Capital, set up by former CarVal Investors directors in 2017, has raised €337m for its debut fund.
Baumont Real Estate One exceeded its fundraising target of €250m, attracting commitments from seven institutional investors, including €25m of co-investment capital.
Investors include sovereign wealth funds, funds of funds, endowments and pension and life insurance companies from Europe, the US and Asia.
The fund will focus on France and the UK and has already deployed €50m, acquiring two office assets for a total deal value of approximately €125m.
Baumont was formed in 2017 by Robert Balick, Frédéric Laurent, Serge Maton and Eric Salmon, all former directors of CarVal Investors.