This year’s Visions, Insights & Perspectives – Europe conference took place in Copenhagen at the end of February. Just as the weather was much better than anyone had the right to expect in Copenhagen at the end of February, the conversation was much more optimistic than anyone had the right to expect among investors who are still finding their way out of the recession. Much of the talk focused on whether it was time — meaning safe — for investors to move out on the risk curve. While it was clear that the conversation has moved out on the risk curve, it isn’t clear whether investor capital has actually moved out. According to IREI’s FundTracker, there are 315 funds currently raising capital in Europe. Of those, 53 percent are core funds. Only 15 percent are value-add, and 8 percent are opportunistic. The rest are mi