Europa Capital raises €716m for fifth European value-add fund

Europa Capital has raised €716m for its fifth pan-European value-add fund and associated co-investment vehicles.

The real estate fund manager said the amount raised by Europa Fund V significantly exceeds its prior value-add fundraise.

The fund comprises 17 international institutional investors from predominantly private and state pension plans, with support from European, North American and Australian clients, and over 50% of the commitments are from returning investors, it said. 

Jason Oram, a partner at Europa Capital, said: “We are delighted to have received such strong support from a large number of existing investors and also to have established a number of new client relationships.

“The success of Europa Fund V is reflective of Europa’s long standing track record as a specialist European value-add investment manager, as well as the continued global appeal of the investment opportunity presented by European real estate,” Oram said.

Europa Fund V has already completed 10 investments in six countries and committed over 40% of the raised capital.

It will mainly focus on the largest European markets of UK, France and Germany and seek to invest tactically in smaller, but important markets such as Denmark, Poland and Spain where the fund also has existing investments. 

The investment strategy will also target the traditional real estate sectors and may opportunistically undertake minor investments in other sectors such as hotels.

Europa Fund V was launched in 2016 following the completion of the acquisition programme for Europa Fund IV, which raised €604m.

In April 2016, IPE Real Assets reported that Europa Capital has raised €360m in a first close for Europa Fund V.  

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