Fundraising - MAY 6, 2020

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BlackRock’s Europe Property Fund V tops $1.4b fundraising target

by Kali Persall

BlackRock Real Assets has raised €1.287 billion ($1.39 billion) for its Europe Property Fund V (EFV), which aims to reposition, rebuild and recapitalize real estate assets across Europe.

The fund also collected an additional €200 million ($217 million) in capital commitments for co-investments, bringing the total capital raised to €1.487 billion ($1.615 billion) for the strategy, smashing through its $1.4 billion fundraising target.

In July 2019, the fund had already secured more than half of its target at first close, collecting $780 million in capital commitments.

The investor base consisted of 39 diversified institutional investors, including public plans and private pension funds, sovereign wealth funds, family offices, insurance companies, and nonprofit organizations across EMEA, APAC and the Americas. Some 67 percent of the capital in Europe Property Fund IV (EFIV), the fund’s predecessor, also invested in EFV. EFIV raised $779 million at its final

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