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Europa Capital collects €350m for its open-end diversified income fund
Pan-European investment manager Europa Capital has raised €350 million ($414 million) in the first closing of its new open-end vehicle, the Europa Diversified Income Fund (EDIF).
The value-add EDIF will invest in logistics, residential and offices. According to Europa, the fund will capitalize on the structural changes of innovation and urbanization and target strong economies in Western Europe, focusing on France, Germany, the Netherlands and Denmark.
The initial seed capital came from its cornerstone investor, Mitsubishi Estate Co., and the fund was also backed by European and Asian institutional capital. The portfolio consists of a mix of logistics, residential and office investments and is 99 percent occupied.
“EDIF represents a new brand of core fund,” noted Andy Watson, partner and fund manager at Europa Capital. “With no assets in retail and hospitality and no U.K. exposure, there are currently no legacies dragging on performance. ED