Fundraising - AUGUST 2, 2017

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Peakside Capital launches third fund

by Andrea Waitrovich

Peakside Capital has a third fund, PREF III, in the market, which will pursue a similar strategy as its predecessor.

Recently, Peakside Capital has committed all of the capital raised for PREF II, 12 months ahead of the end of the investment period.

The fund committed €600 million ($705 million) of transactions in 18 months for the fund, which was launched in 2015.

PREF II is the latest value-add and opportunistic pan-European fund managed by Peakside, which was spun out of Bank of America Merrill Lynch in 2010. PREF II signed or closed its final three transactions over the past four months, including the most recent acquisition of Theodor Heuss Allee 108 in Frankfurt, which it bought from a closed-ended fund formerly managed by AXA Merkens.

PREF II has made seven investments, two of which, with a combined asset value exceeding €100m, have already been sold. The fund now owns five office and mixed-use schemes in Frankfurt, Hamburg and Berlin, in

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