Hines brings €1.5b value-add fund to European market

Hines is planning to launch a new investment vehicle focused on the European market — Hines European Value Fund 3 (HEVF 3).

With a fundraising target of €1.5 billion ($1.7 billion), HEVF 3 is expected to be the firm’s largest closed-end fund to date in its growing flagship series of value-add funds in Europe.

HEVF 3 will seek to build a portfolio diversified by markets, sectors and risk profiles, and is expected to have dominant allocations to logistics and office. The first closing of HEVF 3 is expected to take place early in the second quarter, with additional commitments throughout 2022.

“The pace of fund raising and execution of investments in our first two European value-add funds has led to considerable anticipation ahead of the launch of HEVF 3,” said Paul White, fund manager for the HEVF Series. “Following the successful formula for thematic investment strategies and off-market origination of its predecessors, this third fund is anticipated t