Henderson to invest EUR 150m in German logistics

Henderson Global Investors has raised EUR 90 mln for its German Logistics Fund – a partnership between Henderson’s German Property Business and logistics real estate specialist Palmira Capital Partner.

With leverage, the fund has a spending power of EUR 150 mln and remains open to further institutional investors with an eventual target size of EUR 250 mln. Current investors comprise predominantly German insurance companies and pension funds, together with an unnamed Austrian institutional investor, Henderson said.

The fund – the company's second ‘Spezialfonds’ - will focus exclusively on existing, good quality logistic assets in top locations throughout Germany. It has already got a number of assets in due diligence and hopes to complete on 3-4 acquisitions before the end of the year.

Its target return is 8.5% with a 40% gearing provision.