In London, at the end of last year, Mayfair Capital Investment Management closed a £28.2 million (€34.2 million) residential development fund. The monies will be used to provide developers working the prime London market with preferred equity, filling the funding gap between developer’s equity and bank debt. Investors include national charities, Oxbridge college funds and UK pension funds.

“We will be fully invested by the end of the first quarter, and then we are going to decide to scale up or do something else but similar,” says James Thornton, Mayfair’s CIO. “There’s demand from UK investors and we’ve been talking to Malaysian and US pension funds.”

In Stockholm, Genesta Property Nordic is raising capital for a second real estate fund. The fundraising goal is between €250 millio