Wednesday, 10 September 2014
CBRE Global Investors raises €140 million of new equity for the restructured European Industrial Fund (EU)
CBRE Global Investors has recapitalised its European Industrial Fund (“EIF”) with €140 million of new equity sourced from three new investors and two existing investors, mainly entering the fund through secondary transactions.
The fund has a prime logistics seed portfolio of €465 million and aims to grow this to €800 million by capitalising on current pan-European investment opportunities over the next three to four years. EIF has been re-launched with a modernisation of the fund’s structure making it more efficient, enabling the fund to offer more attractive terms and conditions to its investors. A more modern and robust governance framework has also been put in place with an aligned fee structure.
Sophie van Oosterom, Head of Special Programmes said: “The re-launch of EIF consolidates its position as a first-class pan-European logistics platform, as well as cementing our strategic aim as a company to have a significant foothold in the sector going forward. We are delighted with the vote of confidence from our existing and new investors, who have seen the future potential in this platform.”
Mike Clarke, Head of EMEA Investor Services added: “The successful recapitalisation of this fund, is a clear indication of the increase in liquidity provided for investors through secondary trading in our European funds. This was also witnessed recently in some significant secondary transactions for our Dutch Office Fund after the modernisation was announced.”
Source: Madano Partnership