Freo's opportunity fund raises EUR 161m in final closing

Luxemburg private equity real estate asset manager Freo Investment Management Sarl has announced the final close of its Freo Germany Partners II fund which raised EUR 161 mln of capital from seven institutional investor groups in Europe, Asia and the USA. Jones Lang LaSalle's Corporate Finance team advised Freo on the capital raising.

Freo Germany Partners II is an opportunistic investment vehicle targeting an internal rate of return (IRR) of 20% (net of all fees and taxes) via acquisition, asset management and disposal of a diverse portfolio of real estate across the main regional markets of Germany.

The company said that the acquisition programme is currently underway with a number of assets already acquired. The fund runs for five year with two one-year extensions permitted.