Ares and Harrison Street both launch third in series funds
Ares Management and Harrison Street have both recently launched third versions of popular funds.
Ares has received a €100 million commitment from Illinois Municipal Retirement Fund (IMRF) Board of Trustees for its European Property Enhancement Partners III. The previous fund in the series, Ares European Property Enhancement Partners II, held a final close in 2017 with €665 million in equity commitments. It invests with a value-added strategy, targeting property investments primarily in France, Germany and the UK.
Harrison Street’s Property Partners III fund, has been launched eight months after its predecessor completed its final close with €700 million in capital commitments in April. According to a US Securities and Exchange Commission Form D, European Property Partners III has yet to raise any capital, but is targeting €750 million in equity commitments. The investment strategy of the fund series targets the student housing market in the UK, Germany, Irela