BNP Paribas closes Luxembourg logistics fund with €300m in capital commitments

The Eurozone Logistics Fund (ELF), a SICAV-SIF based in Luxembourg managed by BNP Paribas REIM, has reached its hard cap of €300 million ($337 million) in equity commitments, the firm announced Friday.

BNP Paribas REIM is the business line dedicated to investment management within BNP Paribas Real Estate, consisting of various legal entities, according to the firm.

ELF, which focuses on modern logistics platforms in key European logistics hubs, reached a final close in June with €100 million ($112 million) of new equity.

“Many Institutional investors in Western Europe have turned to the logistics sector to diversify their portfolio, looking for attractive yields and focusing on mega trends,” said Henri Romnicianu, head of institutional clients in Europe. “E-commerce has been driving strong demand for logistics assets and has made it a particularly attractive asset class for institutions.”

The diverse group of investors include funds, insurance