Catalyst Capital has announced the first close of Catalyst Core Plus European Property Fund (CCPEPF), a €1 bn 'evergreen' real estate fund.
At the first close Catalyst has received equity commitments of more than €400 mln from international institutional investors. Using leverage, CCPEPF will have an initial €1 bn to invest in income-producing assets in every commercial real estate sector, hotels and infrastructure.
Geographically, CCPEPF will invest in the countries in northern Europe where Catalyst has an established presence, Germany, Poland, the UK and France.
As an 'evergreen' fund, CCPEPF will have an indefinite life. Its final close is expected to be in the first quarter of 2018.
Catalyst is currently investing for its second European real estate fund, Catalyst European Property Fund II, which closed in August 2016 with €1 bn of spending power.
Julian Newiss, founding partner of Catalyst, said: 'We believe the current environment provides an excellent opportunity to acquire assets with sustainable income in good locations.'
