BlackRock Private Markets has raised €774 million ($844 million) million in initial investor commitments for the BlackRock Europe Property Fund VI (EFVI) at its first close, with capital provided by a diverse set of global institutional investors, including new clients and LPs from prior vintages.
European real estate markets have recently repriced more swiftly than other regions. Amid stabilizing interest rates and inflation, EFVI, the latest vintage in BlackRock’s European value-add series, plans to take advantage of this attractive entry point.
The fund will target the most liquid markets in Europe, with a focus on the United Kingdom, France, Germany, the Nordics and Spain; and invest in high-quality assets aligned with the structural “mega forces” driving the economy and future occupier demand. These mega forces include demographic shifts, digital disruption and the transition to a low-carbon economy and a net-zero built environment.
The fund will fo
