Peakside Capital has raised €140m for its second European value-add and opportunistic strategy.
The private equity firm said it is focusing on commercial real estate in Germany for the Real Estate Fund II vehicle.
The final close gives the fund €400m to invest in value-add and opportunistic assets.
Stefan Aumann, managing partner and head of asset management of Peakside Capital, said the fund’s focus is on identifying investments that display a “clear opportunity to create value for investors” and produce attractive returns.
The Zug-based company has bought a 34,600sqm mixed-use asset in Berlin’s Prenzlauer Berg district, its third for the fund and first in the German capital.
The fund has also sold two assets, in Mainzer Landstrasse in Frankfurt and in Arnulfstrasse, Munich.
Peakside last month said it had created a German residential property joint venture with GRP Capital.
The private equity firm will advise national and international investors, as well as family offices, on investing in defensive, higher-yielding assets.
German residential assets and portfolios are the partnership’s first target, the firm said.
The joint venture will target markets where there is a surplus of demand.