Europa Capital raises €750 million for European investment
Tuesday, June, 17, 2008
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 Capital is 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.”
Notes to editors:
About Europa Capital
Europa Capital is an independent real estate fund management group operating from offices across Europe. Since 1995, Europa Capital’s principals have collectively raised 6 real estate funds and committed to over 60 transactions totalling in excess of €5.0 billion across 17 European countries.
Europa Capital currently operates three pan-European closed ended real estate funds, which invest across the enlarged European Union countries. In addition, Europa Capital manages a fourth closed ended fund which invests in Bulgaria, Romania and certain Eastern European countries outside the European Union.
The Europa Funds benefit from Europa Capital’s network of exclusive Country Partners, who co-invest in acquisitions made by the Europa Funds in their territory. Many of the Country Partners have worked closely with the Principals of Europa Capital during the last 20 years. Further information can be found at
www.europacapital.com.
Europa Capital Partners Ltd and Europa Capital LLP are regulated by the
Financial Services Authority
For further press information please contact:
Finsbury PR on +44 (0) 20 7251 3801
