New investors, including Blackstone’s secondary and private market solutions platform, have backed Optimum Asset Management’s second property fund to raise an additional €100m.
The boutique real estate investment manager said its Optimum Evolution Fund SIF – Property II has raised the amount in a secondary transaction.
Optimum said Property II received capital from new investors including Strategic Partners Fund Solutions, Germany asset manager Helaba Invest and Neuberger Berman Private Equity.
Property II was launched in 2011 and initially raised €200m in equity commitments from institutional investors. The Luxembourg-based fund is focused on residential and commercial properties in Berlin.
Optimum said the previous group of investors are realising a profit of more than 70%, based on the fund’s reporting net asset value as of 30 June 2017.
Christian Schulte Eistrup, the managing director, of Optimum, said: “With Helaba Invest, Neuberger Berman Private Equity, Strategic Partners and additional major EMEA and US institutional investors, we have found new groups who complement our existing backers.
“It was important to us to find partners with the right credentials and a demonstrable interest in accessing the Berlin real estate market. Thanks to the quality of this portfolio, it has been a seamless transition to this new group.”