US investment management firm Harbert Management Corporation is planning to launch a third fund targeting European real estate. The company is set to start the marketing of its Harbert European Real Estate Fund III, which will seek to raise EUR 400-500 mln of equity from third-party investors, private equity magazine Pere reported, without quoting sources.
US investment management firm Harbert Management Corporation is planning to launch a third fund targeting European real estate. The company is set to start the marketing of its Harbert European Real Estate Fund III, which will seek to raise EUR 400-500 mln of equity from third-party investors, private equity magazine Pere reported, without quoting sources.
Harbert's second European fund is currently 75%-invested. The fund raised $315 mln (EUR 217 mln) of fresh equity in 2007 and recently completed the acquisition of a multi-let industrial portfolio from UK real estate company, Segro.
Harbert Management Corporation is an alternative asset investment management company with offices in London, Paris and Madrid.
