Activum SG Capital Management, the European real estate fund manager, is launching a new EUR 238 mln investment fund targeting distressed real estate assets and 'special situations' assets in Germany.
Activum SG Capital Management, the European real estate fund manager, is launching a new EUR 238 mln investment fund targeting distressed real estate assets and 'special situations' assets in Germany.
Activum SG Fund II - which was more than two times oversubscribed following a brief international roadshow - is a step-up in size from Activum's first discretionary real estate fund, which raised EUR 56 mln in early 2009 and is currently fully invested. The vehicle has a broad-base of US and European investors, with the majority of capital commitments from institutional investors, endowments, foundations, and family offices.
'The exceptionally strong investor interest in our second fund reflects confidence in our ability to breathe new life into undervalued buildings and unravel complex situations,' said Saul Goldstein, managing partner of Activum SG Capital Management.
Atlantic-Pacific Capital served as the exclusive global placement agent and Proskauer Rose as legal counsel.
Activum SG Capital Management is a Jersey-based real estate fund manager that repositions under-valued real estate in Germany. The group is advised by Berlin-based Activum SG Advisory. It was founded in 2007 by Saul Goldstein, former head of European Real Estate at Cerberus Capital Management. Activum SG Capital Management's first fund was invested in six landmark buildings offering a combined 85,000 m2 in Frankfurt, Berlin, Hannover, Cologne and Munich.
