Tristan Capital Partners, the pan-European real estate fund manager, has secured initial equity of €800 mln after just three months of marketing its new core-plus fund, writes Robin Marriott.
Curzon Capital Partners 5 Long-Life, the company's first perpetual vehicle, was only launched in January this year with a €1 bn target.
'The speed with which we have raised capital is testament to the strength and longevity of our Core+ track record and the strength of our relationships,' said Tristan CEO Ric Lewis (pictured).
The fund targets 10%-plus returns with a net annual dividend of 3-5%. It is structured with multiple liquidity features and allows investors to recycle capital in the same vehicle. The vehicle will invest in Western and Central Europe.
News of the fundraising progress follows the firm's largest fundraise to date – €1.5 bn secured for EPI Special Opportunities 4 (EPISO 4) in 2015. The predecessor to Curzon Capital Partners 5 – Curzon Capital Partners IV - hit its €950 mln target in the same year.
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Robin Marriott is editor of PropertyEU's new CapitalWatch publication.
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