Fundraising round-up: retail and debt, Germany and UK
In the United Kingdom, Octopus Investments has raised £130 million (€166 million) for a Commercial Real Estate Debt Fund that will focus on the UK commercial property market. The fund will be managed by Octopus Investments’ property finance arm, Dragonfly Property Finance.
A further UK fund has been launched by Hermes Investment Management, which invests on behalf of the BT Pension Scheme, and Countrywide Plc to focus on the private-rented sector. The residential fund has £95 million (€121 million) of seed equity comprising three assets in Birmingham, Manchester and Nottingham.
Luxembourg-based ECE Real Estate Partners has held a first close for its ECE European Prime Shopping Centre Fund II, raising €500 million. The fund launched this year with a €750 million target. The final closing for the second fund is planned for 2015, and the investment period will last until 2018. Investors include the Otto family, ECE employees, and pension funds and sovereign we