AMP Capital has closed its Global Infrastructure Fund II (GIF II) at US$3.4bn. The fund reached final close on 27 December 2019, exceeding its US$3bn target and drawing additional significant co-investment commitments.
Launches & Fundraising
Värde Partners, a global alternative investment firm, has raised its 13th flagship vehicle, Värde Fund XIII, with USD2.47 billion in commitments.
Capital Square, a sponsor of tax-advantaged real estate investments, has launched a new qualified opportunity zone fund. CSRA Opportunity Zone Fund II, is a project-specific opportunity zone fund that is raising capital to develop Scott's Collection II, a 60-unit, mixed-use multifamily property in the Scott's Addition designated opportunity zone in Richmond, Virginia.
Prologis has expanded its development venture in China and increased its development capacity to more than USD3.5 billion. Prologis also announced the formation of its new USD1.7 billion open-ended Prologis China Core Logistics Fund (PCCLF).
Long Harbour, a real estate and asset-backed investment manager, has launched its European Ground Lease Fund, a new vehicle that will invest in ground leases on residential and commercial real estate assets across Europe.
Property investor Patron Capital has launched the world’s first “gender-lens” property fund to support women who are experiencing or are at risk of homelessness.
PATRIZIA has launched the PATRIZIA Living Cities Residential Fund (Living Cities), an open-ended fund with a core strategy which currently has EUR650 million of seed assets and is expected to grow to over EUR1 billion in assets next year.
Alpha Real Capital (Alpha), a specialist manager of long income real assets, has launched the European Long Income Fund (ELIF), which will target Euro denominated, asset backed, secure inflation-linked income streams by investing in commercial ground rents, amortising income strips and long lease property (eg sale and leasebacks).
ECHO Partners has held the final closing of its first fund, ECHO Fund SCSp with approximately EUR152 million in capital commitments.
M7 Structura, a new European-focused venture capital firm dedicated to real estate technology, has launched its first fund, which will invest in revenue-generating PropTech companies at the institutional seed investment to Series A fundraising stage.