Irish investor Quinlan Private said on Tuesday it has raised EUR 400mln of equity from US investors for its European Strategic Real Estate Fund. The capital was raised from leading institutional investors, endowments, foundations, life companies and high net worth individuals throughout the US, Quinlan said, noting that the total equity raised exceeded its initial capital raising objectives. Irish and UK investors contributed EUR 325mln of equity to the fund.
Irish investor Quinlan Private said on Tuesday it has raised EUR 400mln of equity from US investors for its European Strategic Real Estate Fund. The capital was raised from leading institutional investors, endowments, foundations, life companies and high net worth individuals throughout the US, Quinlan said, noting that the total equity raised exceeded its initial capital raising objectives. Irish and UK investors contributed EUR 325mln of equity to the fund.
The fund, which has a war chest of some EUR 2.5bn, is expected to be fully invested by the end of 2008. The fund targets assets in the retail, office, residential as well as leisure and hospitality sectors and invests in trading assets, value-added and development opportunities. It has already invested in retail developments in Bulgaria and Slovakia, office buildings in the Netherlands, the UK and Germany, office developments in the Czech Republic, Poland and Slovakia and hotel and leisure assets in the UK and across the CEE region.
Quinlan Private said it plans to continue to take advantage of repricing opportunities in the UK as well as opportunities in the faster growing CEE region through its CEE development platform .
