Fundraising - JANUARY 31, 2014

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Tristan Capital fund holds €950m close

by Andrea Waitrovich

Tristan Capital Partners has announced the final equity raise for its European Property Investors Special Opportunities 3 at €950 million ($1.3 billion), exceeding its original target by 25 percent. EPISO 3 launched in 2012 with a €750 million ($1 billion) target goal.

The value-added/opportunistic fund is the firm’s sixth fund. It invests in Western and Central European markets across office, logistics, retail and residential sectors. Its strategy is to target investment returns of 15 percent net to investors and with a maximum leverage of 60 percent loan-to-value.

Approximately 36 investors committed to EPISO3, with about 40 percent of the capital from the United States, 40 percent from Europe and Middle East, and 20 percent from Asia.

EPISO 3 has invested a portion of its capital, approximately 25 percent, ranging in investments from offices in Germany and the United Kingdom

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