HIG Capital raises €673m for value-add Europe property fund

HIG Capital’s value-add Europe property fund has exceeded its €500m fundraising target by more than a third at final close.

The HIG Europe Realty Partners II fund, which raised €673m, will principally make investments in the small and mid-cap real estate sector in Europe.

The fund is already 16% committed, with 8 investments made, including an office building in Paris, a retail park in Italy, logistics assets in Denmark, an office building in Milan, two credit deals to a German and a UK borrower respectively, a hotel in Germany and offices in Norway.

Sami Mnaymneh and Tony Tamer, Co-CEOs of HIG, said: “The fund will continue to build on our local, on the ground pan-European presence and is already 16% committed.

“We continue to find compelling opportunities to invest in the region.”

Riccardo Dallolio, managing director and Head of HIG Europe Realty Partners, said: “This closing validates HIG. Europe Realty’s differentiated strategy.”

Dallolio said the fund will invest in Europe across the capital structure and asset classes with a particular focus on its target market of small and mid-cap real estate opportunities.

”It will utilize HIG’s hands-on, value-added and operationally focused approach to generate substantial asset appreciation.”

Jordan Peer, the head of HIG Capital Formation, said the fund was supported by a premier group of real estate institutional investors across the UK, Germany, Nordics, Switzerland, Spain and Italy, as well as from international investors across the US, Asia and the Middle East.

“We are grateful for these long-standing partners for their commitment to multiple HIG real estate strategies, globally.

“Our limited partners consist of consultants, sovereign wealth funds, endowments, foundations, insurance and financial institutions and public and private pensions.”

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