CBRE Global Investors has recapitalised its European Industrial Fund with €140 mln of new equity sourced from two existing investors and three new investors which entered the fund mainly through secondary transactions.
CBRE Global Investors has recapitalised its European Industrial Fund with €140 mln of new equity sourced from two existing investors and three new investors which entered the fund mainly through secondary transactions.
CBREGI said that EIF has been re-launched with a modernisation of its structure making it 'more efficient, enabling the fund to offer more attractive terms and conditions to its investors'. A more modern and robust governance framework has also been put in place with an aligned fee structure, it added.
The fund has a prime logistics seed portfolio of €465 mln and aims to grow to €800 mln over the next three to four years.
'The re-launch of EIF consolidates its position as a first-class pan-European logistics platform, as well as cementing our strategic aim as a company to have a significant foothold in the sector going forward,' commented Sophie van Oosterom, head of special programmes.
Mike Clarke, head of EMEA investor services added: 'The successful recapitalisation of this fund, is a clear indication of the increase in liquidity provided for investors through secondary trading in our European funds. This was also witnessed recently in some significant secondary transactions for our Dutch Office Fund after the modernisation was announced.'
