ICG Real Estate (ICGRE) has secured €1.4bn in capital commitments for the final close of its latest opportunistic real estate strategy, exceeding its initial €1bn target.
The manager said the ICG Metropolitan Fund II fund, together with its related vehicles (ICG Metro II), secured strong demand from a globally diverse group of investors, including sovereign wealth funds, pension funds, insurance companies and asset managers.
ICGRE said it raised a total of €2.2bn for its Metropolitan fund series since its inception in 2022. The portfolio comprises approximately 100 assets held on long-term, inflation-linked leases within the European industrial and logistics sector, the manager added.
Krysto Nikolic, global head of ICG Real Estate, said: “We are delighted to be holding the final close for ICG Metro II at €1.4bn following strong demand from our global investor base, as well as a number of new clients to the firm.
“The success of this fundraise reinforces our position as a market leader in European industrial and logistics investing and the creation of high-quality triple-net lease portfolios.”
Benoît Durteste, CIO and CEO of ICG, said: “We are grateful for the support shown by Metropolitan’s new and existing investors. Their confidence underpins our belief that ICG’s real estate division is an exciting long-term growth driver for the firm.”
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