Europa Capital raises E450m for Eur

Europa capital, the independent European real estate fund manager, has announced the final closing of Europa Fund II, with equal commitments totalling E450m from 35 international investors. The target of E300m was exceeded, leaving the fund oversubscribed at the maximum level of E450m. Investors were drawn from around the world, with 60% originating from the US and the balance from Europe, Canada, Australia and Asia. The investors include public and private pension funds, as well as university and other endowment funds. The management team has also invested in the new fund. The fund can invest in the 25 countries of the enlarged European Union, together with Norway and Switzerland, in a broad range of property types, seeking turn-around opportunities, refurbishment and development situations, MBOs, as well as portfolio or single-asset acquisitions. It will also work closely with private equity funds to maximise returns from their property assets.

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• Southern Europe