Europa Capital has secured institutional equity commitments of €716 million for its fifth flagship pan-European value-add fund and associated co-investment vehicles, significantly exceeding its prior value-add fundraise.
The fund comprises 17 international institutional investors from predominantly private and state pension plans, with strong support from European, North American and Australian clients, and over 50 percent of the commitments are from returning investors.
Jason Oram, 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.”
Europa Fund V has already completed 10 investments in six countries and committed over 40 percent 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. Almost 75 percent of the fund’s investments to date are in the office and residential sectors, in markets where there is a supply shortage and strong occupier demand.
Europa’s track record of delivering realised returns is central to its focus on the core European markets and traditional real estate sectors, and has wholly or partially divested of over 75 percent of all investments made by its pan-European value-add fund series.
Europa Fund V was launched in 2016 following the completion of the acquisition programme for Europa Fund IV, which raised €604m during the challenging period of the European sovereign crisis.
The Investment Committee for Europa Fund V are Rob Sim, Robert Martin, Jason Oram, Nic Fox and Kevin D’Arcy, all of whom have worked together at Europa Capital for an average of 14 years.
