Sparinvest's second institutional fund of real estate funds, Sparinvest Property Fund II (SPF II), has raised 200 million from leading Danish institutional investors, including PKA, PenSam and Laerernes Pension. The objective is to build up a global portfolio of funds with an overall target return of 10-13% net.
SPF II focuses on specialized mid-size managers with hands-on operating expertise.
Managing Partner Bo W. Jensen, Sparinvest Property Investors says: "We believe in value creation at the asset level. We have already achieved exposure to 19 properties through five hands-on managers.
The funds' focus areas include multifamily properties in California, office properties in New York, hotels in Germany and shopping centers in China".
SPF II seeks to build up a balanced exposure to Asia, the Americas and Europe and expect to select additional six to eight funds within the next 12 months across the aforementioned regions.
Sparinvest Property Investors, www.property.sparinvest.dk, was established in 2005 and currently manages the two global funds of real estate funds SPF and SPF II. Aggregate commitments of the two funds are 680 million.
Source: Sparinvest Property Investors A/S