Hines anticipates exceeding target fundraise for HEVF 3

Hines has raised an additional €305 million ($343 million) of equity from institutional investors for the Hines European Value Fund 3 (HEVF 3).

The fund has raised more than €1.45 billion ($1.63 billion) since its launch in mid-2022, with an initial target of €1.5 billion ($1.7 billion) equity raising. Final closing of HEVF 3 is planned to take place in November 2023, with the fund’s investment period running until mid-2026. Hines has previously raised more than €1.8 billion ($2.0 billion) of commitments for the first and second HEVF vintages in 2018 and 2020 respectively.

Despite a challenging macro-economic and capital raising environment, with this latest closing, HEVF 3 has now attracted commitments from 30 limited partners, including major institutional investors, alongside a Hines co-investment. Furthermore, 57 percent of the commitments have been made by existing investors in the HEVF series, demonstrating strong conviction in the strategy and Hinesâ€