Rockspring fund receives €50m commitment
Rockspring Property Investment Managers has raised a further commitment of €50 million ($56.6 million) for PanEuropean, one of Europe’s longest-standing open-ended funds, from a European institutional investor.
This additional equity equates to a third of Rockspring’s current €150 million ($170 million) capital-raising target for PanEuropean and will be deployed as part of the fund’s ongoing core investment program into office, logistics and retail assets in key European growth markets, excluding the United Kingdom, by the end of third quarter 2017.
“The funds will be deployed in line with the fund’s strategy, which aims to deliver a low-risk dividend yield of 5 percent plus and a total, net-to-investor return of 7 percent plus by targeting enduring locations across western and northern Europe, where supply and demand dynamics support further growth over time,” said Flavio Casero, partner at Rockspring and fund manager of PanEuropean.
The fund is