Brookfield Asset Management has raised €1.14bn for its first European core-plus real estate fund.
The manager said Brookfield European Real Estate Partnership (BEREP) fund’s total capital commitments at final close exceeded the original €1bn fundraising target.
In July Brookfield announced raising an initial €725m for the fund and said BEREP’s cornerstone investors include a mix of public and private pensions, insurance companies as well as a commitment from Brookfield through its publicly listed vehicle, Brookfield Property Partners.
The fund invested over €50m to make its first investment in April this year with the acquisition of the 42 rue de Paradis office building in Paris.
Zachary Vaughan, head of European real estate at Brookfield, said: “We are grateful for the strong support we have received from our cornerstone investors.
“We continue to see an active pipeline of opportunities for high-quality European assets with long-term growth potential that can benefit from Brookfield’s local operating expertise.”
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