Fundraising round-up variations in approach
Fundraising in Europe continued to remain active in February 2013, with commitments from investors looking to maximise returns in emerging markets and with core properties.
Valad Europe, manager of €4.3 billion in assets, acquired the Polish Retail Fund from GE Capital Real Estate near the end of the month. The Polish Retail Fund is a closed-end fund that manages a €570 million portfolio of six shopping centres and three hypermarkets across Poland.
Valad is co-investing in the fund, and GE Capital Real Estate will continue to control a substantial stake. According to The Wall Street Journal, the fund produces more than €40 million in yearly revenue, and the properties are fully leased to local chains and internationa