CBRE GI holds €1b final close for European value-add fund series

CBRE Global Investors, a global real assets investment manager, has held a €1 billion ($1.16 billion) final close for Europe Value Partners 2 (EVP2).

Capital was raised from a group of institutional investors from Europe, North America, Asia and the Middle East. One of the investors was the Teacher Retirement System of Texas, which committed €89.7 million ($104 million) to European Value Partners 2 in 2017.

EVP2 is the continuation of CBRE GI’s European value-add series and is the second fund in the series. EVP2 pursues a reposition-to-core and develop-to-core strategy and has the ability to invest in all sectors with a pan-European remit, which includes the United Kingdom.

The fund has already committed €200 million ($231 million) of equity in three deals in the high street retail and logistics sectors, with a further investment due to close imminently. The countries targeted to d