Megafunds dominate summer activity
A number of megafunds have dominated headlines over the summer in Europe.
Sculptor Capital Management held the final close of its fourth opportunistic real estate fund, Sculptor Real Estate Fund IV LP (SRE IV), with total capital commitments of €2.2 billion. More than 100 limited partners committed to SRE IV, including public and private pension plans, sovereign wealth funds, and family offices.
Angelo, Gordon & Co. also held a final close, raising more than €1.27 billion for its latest European real estate fund, AG Europe Realty Fund III. It will seek to identify off-market opportunities with a focus on subperforming assets along the entire value-add spectrum. The fund will target all property types located in the UK, Western Europe and the Nordics.
Two new billion euro funds have also been launched into the market. The first, AXA Development Venture V, managed by AXA Investment Managers – Real Assets, will invest in the CBD office, logistics, mixed-u