Fundraising - AUGUST 26, 2014

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Rockspring holds third close for U.K. fund

by Andrea Waitrovich

Rockspring Property Investment Managers has announced the third close for its U.K. Value 2 fund, bringing total equity commitments to £150 million ($248.9 million).

Rockspring U.K. Value 2 launched earlier this year with a £300 million ($497.7 million) target. The fund is scheduled to complete its final close at the end of this year. With leverage, the fund is targeting investment in a portfolio valued at more than £600 million ($995.4 million).

The fund currently has five investors, comprising institutions from the United Kingdom, continental Europe and Australia.

Rockspring U.K. Value 2 has started to invest its capital and has acquired three assets with an aggregate value of £84.5 million ($140.2 million).

The most recent transaction included the Bramley Shopping Center in Leeds, England, and Guildhall, an office and retail investment in Glasgow, for a

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