Aermont raises €1.6bn for latest real estate fund

The firm is seeking €100m more than it raised in its previous fund.

Aermont Capital, formerly Perella Weinberg’s real estate arm, has completed the capital raise for its fourth fund – which will target real estate equity and debt transactions, according to documents from the New Mexico State Investment Council, PERE sister publication Private Debt Investor has reported.

The London-based firm has raised €1.6 billion, or $1.9 billion, for Aermont Capital Real Estate Fund IV, a vehicle that will deploy capital into western Europe’s “most prominent” cities, read the materials for the Albuquerque-based limited partner’s meeting last week. The SIC is considering a €75 million commitment to the fund.

Fund IV, to which Aermont will contribute at least €20 million, will target a gross internal rate of return in excess of 20 percent with a net 15 percent internal rate of return. Partners Léon Bressler, Paul Golding, Vincent Rouget, Nathan Shike and Alison Trewartha make up the fund’s key-person clause.

Aermont did not respond to request for comment.

Fund IV’s investment themes include focused strategies targeting structural economic themes, investments in prime assets or projects in marquee European cities and business plans that focus on improving operations. Fund III, launched in 2015, raised €1.5 billion.

Lisa Fu contributed to this report.