Meyer Bergman’s third European retail real estate fund has raised €816m at final close.
Meyer Bergman European Retail Partners III (MBERP III) secured the equity commitments from 15 international pension funds, endowments and other institutions.
Markus Meijer, the chief executive officer at Meyer Bergman, said: “There are fantastic investment opportunities in European retail real estate with the right approach and know-how.
“This capital-raise endorses our strategy of identifying under-managed or under-utilised properties to stabilise them so that they become resilient and defensive investments for long-term institutional owners.”
The London-headquartered fund manager said North American investors accounted for 49% of the capital raised, with the balance coming from Europe, Asia and the Middle East.
Investors in previous Meyer Bergman funds who “re-upped” provided 55% of the equity in the capital-raising, it said.
MBERP III has made 11 investments to date, meaning around €410m of the raised capital is deployed or committed, the company said, adding that this figure excludes debt finance.
Meijer said the fund is currently looking at a number of potential acquisitions in France, Germany and the Nordic region and are aiming for the fund to be fully invested in about 12 months.
“For Meyer Bergman, this year will also be about looking at opportunities in the U.S., where we have already made three investments on behalf of clients, while in Europe we are considering new strategies that will draw on the expertise and experience of our growing team,” Meijer said.