The latest European real estate fund set up by InfraRed Capital Partners has exceeded its £500m (€568.1m) fundraising target by 4%.
The manager said InfraRed Active Fund IV (Active Fund IV) received equity commitments from global investors to raise £522m at final close.
The investors include pension plans, foundations, wealth managers and family offices from North America, Europe, the Middle East and Asia.
With the associated leverage envisaged for its strategy, Active Fund IV has an investment capacity of over £1.2bn, the manger said.
Active Fund IV continues InfraRed’s successful strategy of focusing on intensively managed, high value-add opportunities in core markets, primarily in Germany, France and the UK.
InfraRed said it has already committed more than 30% of the fund’s capital to five assets, including office projects in Munich, Paris and Frankfurt.
Chris Huxtable, the head of European real estate, said: “We are very pleased with the support we have received from our investors, many of whom have experienced our disciplined and hands-on investment style over several years.
“The scope and quality of our investor base is testament to InfraRed’s track record and team.”
Andreas Katsaros, the head of real estate strategy and origination, said: “Reaching deep into a select number of fundamentally strong markets, unearthing high quality opportunities, working with our tenants and creating highly desirable core assets with long-term purpose has been the mainstay of our investment approach.
“Our Fund IV investments in Munich, Paris and Frankfurt are great examples of this formula, and we are excited about the new projects we are expecting to add to the portfolio soon.”
