Fundraising round-up: forward March
European fundraising remains active as investors continue to commit equity to new and existing funds.
Legal & General Property (LGP) announced the launch of the UK Property Income Fund II (UKPIF II), a core/core-plus fund with a £1 billion (€1.2 billion) fundraising target. LGP anticipates its second fund will follow the success of the first in the series, UKPIF I, which raised £300 million (€354 million) in equity and manages £430 million (€507 million) in assets. Both funds invest in large-lot UK properties across property sectors. UKPIF II is slated to hold a first close at the end of the second quarter.