|
«Europa Capital, the European property fund manager, has received €750 million of equity capital commitments for two new investment funds for European property investment. This will give Europa Capital spending power in excess of €2.5 billion. More than two thirds of the new equity commitments have come from North America with the rest from Europe and other parts of the world. Much of the new capital has been committed from endowment funds, foundations and corporate and State pension institutions, many of which invested in previous Europa Capital funds.
Europa Capital has, to date, invested in transactions totalling more than €5 billion in European property in four previous funds. The new Europa Fund III is Europa Capital’s third pan-European fund investing in Western and Central Europe to which €600 million of new equity has been committed, while Europa’s Emerging Europe Fund invests in Eastern Europe with equity commitments of €150 million. This fund has already made two investments, committing more than €30 million into logistics properties in the Ukraine and Western Romania.
Europa Capitalis distinctive as a fund manger in the geographical diversification of its investment reach, having invested in 17 different European countries to date. Its investment strategy is based upon sourcing investments which provide scope for active hands-on asset management and for transforming properties to higher value uses. In the current challenging financial environment, where many owners find themselves distressed as opposed to the underlying assets themselves being distressed, Europa Capital expects to find interesting situations, which provide the opportunity for capital appreciation through corporate restructuring.
Noel Manns, one of Europa Capital’s Principals, commented:
"We are delighted by the high level of investor support we have received for both of our new funds. This capital will provide Europa Capital with a significant war-chest to capitalise upon the opportunities, which we are seeing in these difficult and volatile credit conditions."»
Nella foto: Noel Manns
.jpg)
|
