Redevco has launched an open-ended European retail parks fund with approximately €500m in cornerstone commitments at first close.
The Redevco European Retail Parks Evergreen (RERP Evergreen) fund secured capital from institutional investors represented by CBRE Investment Management Indirect, alongside a co-investment from Redevco.
The core/core-plus vehicle will target convenience-led retail parks and essential retail formats, using conservative leverage. It has already secured its first three assets in Belgium, Spain and the UK.
RERP Evergreen builds on Redevco’s inaugural closed-end retail parks vehicle, which raised over €500m in 2025 and has now committed 80% of its capital.
Sasha Silver, head of global client group at Redevco, said: “Launching a second retail parks fund backed with an investment partner from our first vehicle is a powerful testament to Redevco’s specialist expertise and long-term approach to capital partnerships. Retail parks continue to offer a compelling combination of income resilience, defensive characteristics, and attractive risk-adjusted returns.
“The launch of RERP Evergreen reflects both confidence in the opportunities we see in the sector and in our ability to translate conviction into active deployment and value creation both today and over the longer term.”
Israel Casanova, investment director at Redevco, said: “Driven by essential retailers, the retail parks sector benefits from stable customer demand, limited supply growth and strong retailer demand for affordable, flexible space.
“RERP Evergreen will offer investors efficient access to a diversified portfolio of high-conviction retail real estate assets, supported by Redevco’s specialist expertise and active asset management capabilities.”
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