Alternative investment fund manager ECE Real Estate Partners has raised approximately €100 mln in additional capital for its ECE Progressive Income Growth Fund (EPIG Fund).
The EPIG Fund invests in high-quality shopping centres across Europe and currently holds a portfolio of seven centres valued at over €2.2 bn.
This latest capital raise follows previous fundraisings of €150 mln in 2022 and 2023 and the joint acquisition of the PEP shopping centre in Munich with the Generali insurance group in March 2023. The additional capital will be used to acquire new assets and invest in the existing portfolio.
Leading institutional investors participating in the capital raise include Blue Sky Group, KLP, and clients of Townsend Group.
Volker Kraft, managing partner of ECE Real Estate Partners, commented: ‘The EPIG Fund has achieved outstanding operational results and income growth since its inception in 2019. We believe we are in a favourable market phase to acquire assets and continue to raise capital for our investment programmes.’
ECE Real Estate Partners invests in shopping centres that have a strong appeal beyond the immediate area and that are strongly focused on focused on local shopping. Priority is given to those assets with a strong market position, significant size, and growth potential of sales and the overall development of the regional economy.
The company manages a shopping centre portfolio of over €10 bn across seven countries (Austria, Denmark, Germany, Hungary, Italy, Poland, and Spain). In addition to further expanding investments in shopping centres, since 2021 ECE Real Estate Partners has expanded its investment spectrum to include hotel properties.
As part of its investment strategy, the company is also actively seeking to diversify its investor base, by attracting international investors and family offices.
ECE Real Estate Partners is part of ECE Group, a family-owned developer and operator of properties in all asset classes (retail, hotels, residential, logistics, and offices) as well as entire urban districts. The group currently has approximately €31 bn assets under management in 12 countries.
