Three European schemes commit €130m to Nuveen European cities fund

Three European pension funds have committed €130m in total to Nuveen Real Estate’s European cities fund.

Nuveen said the European Cities fund, which was launched in March 2016, has now raised €1.3bn from 24 investors based across the globe.

In the latest fundraising, two of the unnamed European pension funds expanded their current commitments to the platform and the third was a new investor.

The fund targets selected cities across Europe and currently has a €2bn portfolio of 13 assets, including one under development, the manager said.

Andrew Rich, fund manager at Nuveen Real Estate, said the continued commitment from current investors, and interest from new parties, solidifies confidence in the European market for high-quality assets in key gateway cities.

“Although we continue to invest in new opportunities, we also extensively manage our existing portfolio to ensure they are providing strong returns for our investors and enjoyable experiences for the users.”