Fundraising - DECEMBER 9, 2015

J.P. Morgan holds €747m final close

by Andrea Waitrovich

J.P. Morgan Asset Management – Global Real Assets has announced a final close for its third closed-end European property fund, raising 25 percent more than the target capital raise.

The closed-end discretionary fund, J.P. Morgan Asset Management – Global Real Assets European Opportunity III, raised €746.6 million ($818.6 million), giving it investment power of €3 billion ($3.3 billion). It will invest in office, retail, industrial and residential properties that have the potential to increase in value significantly with intensive asset management.

It has begun investing its capital, putting approximately €219.8 million ($241 billion) into office assets in London, Paris, Frankfurt and Luxembourg. The portfolio consist of six transactions in Berlin, Paris, southeast England, Cologne and Hannover, representing 29.4 percent of the fund’s total commitments.

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