Fundraising round-up: A busy month
Seven new funds were launched in March.
The largest new fund to hit the market was the TH Real Estate European Cities Fund. The core, open-end fund will target markets in Europe, and is aiming to raise between €3 billion and €5 billion over a five-year period. The fund was launched with a €200 million co-investment from TIAA, its parent company.
GreenOak Real Estate launched GreenOak Continental European Private Equity Real Estate Fund II. The value-added fund is seeking to raise €400 million to €600 million, and has already raised €150 million. The fund will focus mainly on office properties, but will also invest in multifamily, retail and logistics properties. Europe II will focus mainly on properties in Spain and Italy.
AXA Investment Managers – Real Assets launched the AXA CoRE Europe Fund, a new pan-European open-end real estate fund. The fund has initially raised more than €500 million from a range of European institutions.