Fundraising round-up: big final closes
Investors are getting into the swing of things again, and European property funds have been holding final closes and making large capital raises.
The biggest of the big was, it should be no surprise, a fund sponsored by The Blackstone Group. Blackstone has raised €5.1 billion for its fourth European real estate fund, making it one of the largest dedicated European real estate funds. The opportunistic fund closed about six months after it launched. Blackstone Real Estate Partners Europe IV will invest in a wide variety of property types throughout Europe. It will purchase high-quality distressed properties to turn over as core properties once they have been stabilised.
M&G Investments has completed the fundraising for its two new junior commercial mortgage funds, reaching £1.35 billion (€1.6 billion