Legal & General Investment Management (LGIM) has launched its Sustainable DC Property Fund, in response to a growing demand from DC schemes to access real assets and to incorporate more ambitious environmental, social and governance (ESG) targets.
Launches & Fundraising
LandFund Partners (LFP), a farmland investment company, has launched LFP Soil Enrichment Fund (SEF), an open-end fund seeded with over USD125 million of farmland and over 20,000 cultivated acres.
The Catella European Residential III Fund (CER III), relaunched as the first ‘dark green’ pan-European residential ESG impact fund, has attracted a total of over EUR270 million in mandate commitments from Norway’s largest pension company KLP and a group of eight German pension funds and insurers.
Azora exceeds target for latest European hotels and leisure fund by 36 per cent with EUR815m final close
Azora, the Madrid-based European private equity real estate manager, has completed the final close of its latest pan-European hospitality fund, Azora European Hotel & Lodging, (Azora EH&L), with EUR815 million in total commitments plus additional co-investment capital, implying a 36 per cent increase over the original EUR600 million target.
SCOR Investment Partners, the asset management company of the SCOR group, has held the final closing of the SCOR Real Estate Loans IV fund, having raised EUR629 million in commitments.
European PropTech VC, Pi Labs, has secured three new investors who will join as limited partners (LPs) of its third institutional fund, Fund III.
Tishman Speyer is launching a new residential product for German institutional investors. The Tishman Speyer Wohnen Deutschland (TSWD) is a special fund focusing on the acquisition of centrally located and well-connected new residential properties in cities and metropolitan regions in Germany with stable rental demand, positive demographic trends and strong regional economies.
Morgan Stanley Real Estate Investing (MSREI), the private real estate investment arm of Morgan Stanley Investment Management, has raised ~USD3.1 billion for North Haven Real Estate Fund X Global (G10), exceeding its original fundraising target and surpassing the size of its predecessor fund, North Haven Real Estate Fund IX Global.
LGIM Real Assets has completed an oversubscribed GBP150 million equity raise on behalf of the Industrial Property Investment Fund.
Nuveen Real Estate, one of the largest real estate investment managers globally, has completed the first close of its third UK debt strategy, having secured cGBP140 million in initial commitments.