M&G has raised an additional €524m in first quarter of 2022 for its European property fund.
The manager said the latest fundraising for the €5bn M&G European Property Fund was backed by three new and four existing clients in Europe and Asia.
David Jackson, manager of the M&G European Property Fund, said: “Over the past 15 years many European property funds have grown through significant investments in commercial real estate, but the next phase of growth will increasingly be through diversification into the broader residential sector.
“We also believe that investment demand for the traditional office and retail markets will become more polarised, with a heightened focus on offices in major central business districts with excellent ESG credentials and greater value placed on defensive food stores and dominant retail parks.”
Wietse de Vries a partner at Dutch pension fund adviser Almazara, said: “Over the years we have advised a number of Dutch pension fund clients to invest in the M&G European Property Fund.
“Aside from a well-diversified, well-performing portfolio managed by a highly qualified team, it is important for us to see the managers’ commitment to reduce GHG emissions and arrive at a Paris-proof portfolio by 2050”
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