BentallGreenOak has completed the final close of its third European value-add fund with €1.468 billion ($1.8 billion) in capital, surpassing its initial target of €1 billion ($1.2 billion).
The fund was backed by 37 institutional investors from around the world, including the United States, Canada, the Middle East, Europe, Japan and South Korea.
“The support we have received from both existing and new investors has been outstanding,” said Julie Wong, managing partner and global head of capital raising at BentallGreenOak. “We had 86 percent of our existing investors continue to partner with us in this new fund and were able to accommodate new investors at the same time.”
BentallGreenOak’s European value-add strategy has invested more than €2 billion ($2.4 billion) since 2014. The fund’s predecessor closed in 2019 and has already returned 80 percent of its capital to limited partners. More than 50 percent of Fund III’s capital has already been
