Catalyst Capital has launched a second property fund to invest in office and retail properties in selected markets in Europe.
Catalyst Capital has launched a second property fund to invest in office and retail properties in selected markets in Europe.
Catalyst European Property Fund II (CEPF II) is targeting a total of €600 mln of equity.
Catalyst Capital, the European real estate investment and asset management firm, is managing the fund, which it describes as an innovative co-investment vehicle.
Each investor’s financial allocation will be split into two elements: a smaller firm commitment, over which Catalyst will have discretion, combined with a larger amount for co-investment, over which each investor will retain the investment decision.
CEPF II will invest in the office and retail sectors and, geographically, in the European countries where Catalyst has an established presence: the UK, France, Belgium, Germany and Poland, where Catalyst believes there is the potential to add or create value. It will target a diversified portfolio of income-producing assets as well as development and refurbishment opportunities.
Catalyst European Property Fund I is now fully invested. Since raising CEPF I in 2007, Catalyst waited for the right time before investing, making only one acquisition before late-2010.
Julian Newiss, founding partner of Catalyst, commented: 'There is a compelling, immediate opportunity to purchase selectively from an increasing stream of cash-starved and management-neglected properties becoming available from failed banking situations. These assets will benefit from Catalyst’s in-house asset management skills to create value for the Catalyst investors.'
