BNP Paribas REIM has announced the launch of Healthcare Property Fund Europe, having raised initial equity commitments close to €200 mln for the new investment strategy.
HPF Europe, which is structured as an open-ended fund, received the commitments from investors consisting of pension funds and insurance companies from France, Germany and Italy. The vehicle intends to grow over time with the next closings planned for the third and the fourth quarter of 2020.
The fund focuses on healthcare properties across all segments (short, medium & long stay) in the key Eurozone countries. It expects to own a portfolio of over €1 bn of nursing homes, clinics and rehab facilities over the next couple of years.
‘HPF Europe is another example of our ability to build resilient and focused investment strategies based on mega-trends across Europe. Strong demographics and aging populations are supporting this asset class which is becoming increasingly significant in the allocation of institutional investors,’ commented Henri Romnicianu, head of institutional sales.
It is the second healthcare fund to be launched in the past few weeks. In June, French group Primonial established ESI, a new European open-ended real estate fund targeting €1 bn of social infrastructure assets.
