Europa Capital raised €493 million for its sixth real estate investment vehicle in a first close, with three investors committing capital to the value-add fund. The firm plans to hold a final close at the end of 2020, with a final close target of €850 million.

Launched in May, Fund VI is looking to invest primarily in the office and residential sectors in France, Germany and the United Kingdom.

The previous fund in the series, Europa Fund V, closed in 2016 with €716 million in capital commitments, which included co-investment arrangements. The firm specialises in European investments, using both equity and debt strategies.

Since its formation in 1995, Europa Capital has collectively raised 10 real estate funds and committed to more than 130 transactions totaling more than €11