Henderson raises further EUR 90m for German retail fund

UK asset manager Henderson Global Investors has raised EUR 90 mln following the second closing of its Henderson German Retail Income Fund (HGRIF).

HGRIF was initially launched in August 2011 with commitments of EUR 85 mln from insurance companies and pension funds from Germany and Austria.

With leverage of 50%, the core/core-plus fund now has the firepower to invest up to EUR 350 mln in retail parks and department stores across Germany. HGRIF aims to distribute at least 6% per annum.

The vehicle has so far bought four retail centres in Forchheim, Koln-Hurth, Nersingen and Duesseldorf for a combined EUR 60 mln. Further acquisitions are underway, said Thilo Wagner, fund manager at Henderson Global Investors.