Partners Group has raised $1.1bn (€1bn) for its third global real estate vehicle.
The investment manager said the Global Real Estate 2014 vehicle attracted new and existing clients.
Institutional investors from public and corporate pension plans, endowment funds and foundations, insurance companies and financial institutions backed the strategy.
Claude Angéloz, partner and co-head of private real estate, said: “We will continue to invest selectively on behalf of our clients across geographies and transaction types, with a particular focus on acquiring properties at attractive valuations, and on value-creation opportunities in the retail, office, industrial, hotel and residential property markets.”
Many of the company’s large clients have, Angéloz said, chosen to pursue the same strategy through separate accounts.
At closing, the vehicle was 49% committed to investments, including a portfolio of four indoor shopping centres in Norway and eight residential properties in Denmark.
A portfolio of warehouse and distribution facilities located in US secondary markets has also been added to the fund’s portfolio.
Secondary investments in the programme include Partners Group’s recently announced purchase of a tail-end portfolio of US real estate assets including two hotels, as well as property portfolios in the Nordics and Switzerland.
“In the past 18 months, we have seen significant deal flow, in particular for direct and secondary investments,” Angéloz said.
Partners’s Global Real Estate 2011 vehicle, which closed at $800m in 2012, is being deployed on behalf of investors in direct, secondary and primary real estate transactions.