AMSTERDAM, 10 August 2014 – CBRE Global Investors has recapitalised its European Industrial Fund (“EIF”) with €140M 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 relaunched 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 relaunch 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.”
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $92.8 billion in assets under management* as of June 30, 2014. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has approximately 44,000 employees in approximately 350 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of properties and real estate-related loans; securities portfolios; and investments in operating companies, joint ventures and in private real estate funds under its fund of funds program. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.