Rockspring Property Investment Managers has raised a further €211m for its TransEuropean VI fund.

The fund’s fourth and penultimate close takes it to €428.5m, above the €400m targeted.

Fundraising will continue until a final close in July for the fund, backed by nine investors from the UK, Europe, the US and Asia.

The fund, which has a value-add strategy, has so far deployed €226m across five assets in the UK, France, Portugal and Switzerland.

A further €177m has been committed.

Paul Hampton, Rockspring partner and fund director of the TransEuropean series, said: “As we look towards bringing the equity-raising programme to a close, we continue to see a strong investment pipeline of value-add opportunities in the market.”

Assets in the office, retail, industrial and residential sectors in Continental Europe and the UK are being sought for the fund, which has a maximum 55% gearing, taking its investment capacity to €1bn.

TEP VI follows TEP V, which closed in 2012 with more than €350m of commitments from 12 investors.