Standard Life raises €237m for Euro Club property fund
Standard Life Investments has plans to host a final close for its third Euro Club investment vehicle. The Standard Life Investments European Real Estate Club III is on track to raise close to its maximum €300 million ($336 million) equity limit, having completed two closings with a total of €237 million ($265 million) of equity since June 2016.
Standard Life is expecting to raise a combined total of €1 billion ($1.1 billion) in equity, providing €2 billion ($2.2 billion) of investment capacity when leverage is included, from its three European real estate clubs.
“We developed Euro Club, Euro Club II and Euro Club III in direct response to international investor appetite for accessto high-quality assets with the potential for value-add enhancement and superior returns,” says Daniel McHugh, head of Continental European real estate with Standard Life Investments and fund manager for all three Euro Clubs, in a statement. “This