HIG Capital closes HIG Europe Real Estate Fund II well above target
HIG Capital (HIG) has closed the HIG Europe Realty Partners II (the fund) with aggregate capital commitments of EUR673 million (USD760 million), well above its target.
The fund will principally make value-add investments in the small and mid-cap real estate sector in Europe.
Sami Mnaymneh and Tony Tamer, Co-CEOs of HIG, says: “We are delighted with the success of HIG Europe Realty Partners II. The Fund will continue to build on our local, on the ground pan-European presence and is already 16 per cent committed. We continue to find compelling opportunities to invest in the region.”
Riccardo Dallolio, Managing Director and Head of HIG Europe Realty Partners, says: “This closing validates HIG Europe Realty's differentiated strategy. The Fund will invest in Europe across the capital structure and asset classes with a particular focus on its target market of small and mid-cap real estate opportunities. It will utilize HIG's hands-on, value-added and operationally-focussed approach to generate substantial asset appreciation.”
Jordan Peer, Head of HIG Capital Formation, adds: “The Fund was supported by a premier group of real estate institutional investors across the UK, Germany, Nordics, Switzerland, Spain and Italy, as well as from international investors across the US, Asia and Middle East. We are grateful for these long-standing partners for their commitment to multiple HIG real estate strategies, globally. Our Limited Partners consist of consultants, sovereign wealth funds, endowments, foundations, insurance and financial institutions and public and private pensions.”