Rockspring Property Investment Managers has announced the launch of its TransEuropean VI fund with a target equity of €400 mln.
Rockspring Property Investment Managers has announced the launch of its TransEuropean VI fund with a target equity of €400 mln.
It will be the largest fund raise to date for Rockspring’s TransEuropean series.
Combining a blend of high income and capital-intensive asset management strategies, TEP VI will primarily invest in office, retail and industrial properties across Continental Europe and the UK with a core-plus/value-add risk profile. The fund will be geared to a level of 50%, delivering total spending power of €800-900 mln.
The launch of TEP VI follows the placing of TransEuropean V which raised over €350 mln in 2012 from 12 investors in 10 different countries and across four continents. TransEuropean V is currently 95% committed and has delivered a 16.6% net IRR per annum.
Rockspring’s TransEuropean series of funds was launched in 1992 and has invested €1.7 bn in 14 European countries, achieving an 11% IRR, since inception.
Paul Hampton, Rockspring partner and fund director of the TransEuropean series, said: 'The TransEuropean series is an ongoing success story for Rockspring and at least 50% of investors have re-upped each time we have raised a new TransEuropean fund, which is a strong endorsement of our performance.'
