LONDON 27 September 2018 – CBRE Global Investors has held a final close for Europe Value Partners 2 (EVP2, or the Fund) with equity commitments totaling €1 billion. Capital was raised from a group of institutional investors from Europe, North America, Asia and the Middle East.
EVP2 is the continuation of the European value add series for CBRE Global Investors and is the second fund in the series. EVP2 pursues a reposition-to-core and develop-to-core strategy and has the ability to invest in all sectors with a Pan-European remit, which includes the UK.
The Fund has already committed €200 million of equity in three deals in the high street retail and logistics sectors, with a further investment due to close imminently. The countries targeted to date are Spain, Denmark and France.
Charles Baigler, Fund Manager for Europe Value Partners, commented: “This has been a truly global effort with capital raised on three different continents. We are delighted to receive this support from investors of such diverse geographies.
“We launched the Europe value add series three years ago and have demonstrated our ability to create value in the European market. We believe we have a competitive sourcing advantage due to the model we have adopted, which uses both in-house expertise spanning 15 countries across EMEA and selected local operating partners.”
Sophie van Oosterom, EMEA CEO of CBRE Global Investors, added: “Our operating model combines local teams with strong sector specific expertise. This in-depth sector knowledge assists the EVP2 team to thoroughly assess value add opportunities sourced both internally and by third parties throughout EMEA. The successful capital raise for EVP2 is a good example of the confidence our investors have in us to create consistent outperformance for them as a result.”