Barings Real Estate European Value-Add Fund II closes at €850m

Barings’ second pan-European value-add real estate fund, Barings Real Estate European Value-Add Fund II (BREEVA II), has closed fundraising at its hard cap of €850 million ($957 billion).

Barings said the fund received €1 billion ($1.3 billion) of client demand, significantly surpassing its target of €750 million ($845 million). About 50 percent of the capital came from existing investors — namely pension funds and insurance companies — with the remainder from new clients. It was well diversified across North America, Europe and Asia Pacific.

BREEVA II will continue the same investment strategy as its predecessor, BREEVA I, targeting value-add opportunities across Europe with a focus on repositioning and build-to-core opportunities in the logistics, alternatives — living and office sectors. BREEVA I has already realized a number of assets and returned more than 60 percent of its equity to investors.

“Through our strong network of local offices we