Tuesday, 21 April 2015
Rockspring launches TransEuropean VI with target equity of €400 mln (EU)
Rockspring Property Investment Managers LLP announces the launch of Rockspring TransEuropean VI. The fund will target equity of c. €400 mln from investors based around the globe including Europe, North America, Asia and Australia. It will be the largest fund raise to date for Rockspring’s TransEuropean series.
Combining a blend of high income and capital intensive asset management strategies, TEP VI will primarily invest into office, retail and industrial properties across Continental Europe and the UK with a core plus / value add risk profile. The fund will be geared to a level of 50%, delivering a spending power of c. €800-900 mln which will be used to purchase high quality assets that will deliver strong income returns for investors.
TEP VI will benefit from an experienced management team that has been led for 23 years by Robert Gilchrist, Rockspring’s CEO, a proven ‘operator-led’ approach to asset management and Rockspring’s established in-house platform which includes seven European offices and a 30 year track record of deal sourcing, implementation and delivery of core plus and value add real estate strategies.
Paul Hampton, Rockspring Partner and Fund Director of the TransEuropean series said: “The TransEuropean series is an ongoing success story for Rockspring and at least 50% of investors have re-upped each time we have raised a new TransEuropean fund, which is a strong endorsement of our performance. Through the launch of TEP VI, we are seeking to further leverage our deep seated pan-European experience and the market opportunity to drive competitive income based returns for our investors. In the current market cycle, where liquidity is back and distress is pretty much gone, it is asset management capabilities and local presence that will make the difference.”
Source: FTI Consulting