BNP Paribas Real Estate Investment Management Luxemburg has announced a new closing for the NEIF II Fund (Next Estate Income Fund II) on 11 April, backed by Belgian, French and Spanish insurance companies and pension funds for approximately €80m of new commitments.
The final closing of the fund is expected before summer 2016. NEIF II is expected to reach total commitments in excess of €500m, to be deployed in grade-A properties in the key Eurozone office cities. The fund has recently disclosed several transactions including acquisitions in Dublin and Milan, and is expected to communicate soon on a new set of acquisitions.
Henri Romnicianu, head of capital raising for pan-European funds, commented: “This new closing strengthens the international profile of the Fund with Investors coming from Belgium, France, Italy, Luxembourg, Ireland and Spain, and confirms that the strategy of the fund perfectly meets the requirements of pension funds and Insurance companies looking for income-driven strategies and allocation to the key European cities.”
NEIF II is a pan-European SICAV-SIF based in Luxemburg. It offers diversification in the Eurozone office sector to international institutional investors.
