Tristan launches EPISO 4
Tristan Capital Partners has launched a fourth diversified pan-European fund with a €950 million ($1.3 billion) equity fundraising target. European Property Investors Special Opportunities 4 follows the final close of its predecessor, EPISO 3, which raised €950 million ($1.3 billion), exceeding its original target by 25 percent. EPISO 3 launched in 2012 with a €750 million ($1 billion) equity fundraising goal. The value-added/opportunistic fund is the firm’s sixth fund. It invests in Western and Central European markets in the office, logistics, retail and residential sectors. The fund’s strategy is to target investment returns of 15 percent net to investors and with a maximum leverage of 60 percent loan-to-value.