The new fund management business launched by Unibail-Rodamco's former CEO Guillaume Poitrinal has reportedly raised €500 mln for its fund targeting stakes in listed European mid-cap companies.
The new fund management business launched by Unibail-Rodamco's former CEO Guillaume Poitrinal has reportedly raised €500 mln for its fund targeting stakes in listed European mid-cap companies.
The company, dubbed Icamap, was founded last year by Poitrinal together with former JP Morgan European real estate research head Harm Meijer and Boussard & Gavaudan Asset Management hedge fund manager Alexandre Aquien.
Icamap, which stands for International Capital Meijer Aquien Poitrinal, hit the €500 mln hard cap for its fund on 22 December. The amount of equity raised may increase significantly as a result of co-investment capital, the founders were quoted as saying in an email to market professionals.
Poitrinal was chairman and CEO of Unibail-Rodamco - Europe's largest listed property Group - from 2005 to 2013 when it oversaw the merger of the French office-conference centre owner Unibail with shopping centre investor Rodamco Europe of the Netherlands. He was praised for spearheading Unibail-Rodamco's 'mega-malls' strategy across Europe, which have been driving the listed group's overperformance compared to its peers in the reent years.
He left Unibail Rodamco in April 2013.
European listed real estate, as represented by the GPR 250 Europe Index, finished 25.5% higher in 2014, with the biggest winner of the year being Germany (47.2%). Austria was the only European country to close the year in negative territory (-19.5%).
