Barings raises €506m for European fund

Barings Real Estate Advisers has raised €506.1 million ($549.7 million) for its Barings European Core Property Fund, formerly known as the Cornerstone European Core Fund. The firm did not comment on its fundraising efforts.

Barings European Core Property Fund opened in December 2015 with an equity fundraising target of €1 billion ($1.1 billion). It will invest in office, industrial, retail and residential assets in London, Paris, Germany, the Netherlands and Spain. The fund previously received a €25 million ($27.1 million) commitment from the $34.7 billion Illinois Municipal Retirement Fund in August 2016.

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