Fundraising - JULY 2, 2014

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Sparinvest holds €317m close for fund of funds

by Andrea Waitrovich

Copenhagen-based real estate firm Sparinvest Property Investors has held a €317 million ($433 million) close for its Sparinvest Property Fund III. The fund of funds has raised almost 60 percent more capital with this fund launch than with its predecessor. Fund III is already two-thirds committed.

SPF III continues its predecessors’ strategy. It focuses on the small and mid-cap real estate segment in the Americas, Europe and Asia.

“We are focusing on undermanaged properties with great potential for growing net operating income through hands-on management techniques, as well as development projects in high-growth markets with an undersupply of up-to-date properties,” says Bo Jensen, managing partner at SPI, in a statement.

SPF III is already two-thirds committed through eight partners and has invested in 150 properties located in the United States, England, Germany,

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