Clarion Partners Europe raises €496m for U.K. logistics fund

Clarion Partners Europe has held the final closing of its core-plus, closed-end U.K. logistics fund. Exceeding its capital-raising target, equity commitments totaling £427 million (€496 million/$543 million) have been secured from a mix of European, North American, and Asian institutions, including investors in Clarion Partner Europe’s previous pan-European logistics strategies. The fund, with leverage, will provide £650 million (€755 million/$827 million) of investable capital and is now closed to new investors.

The fund is Clarion Partners Europe’s first to solely focus on the United Kingdom, a market it recently reentered following a seven-year break. It will target a portfolio of high-quality, ESG-compliant logistics assets underpinned by strong rental growth fundamentals in established U.K. logistics hubs. With the flexibility to invest across the asset class, from last-mile logistics to big box single tenant warehouses, the fund will target both best-in-clas