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Catalyst targets €400m for second Euro fund

The London-based investment and asset management firm holds a second close on its pan-European fund on €168m with plans to close the real estate vehicle on €400m.

London-based investment, asset management and development group Catalyst Capital has held a second close on its latest real estate vehicle, the Catalyst European Property Fund.

The fund has closed on €168 million ($260 million), according to people familiar with the matter, however the firm is believed to be targeting €400 million in total with a final close expected this summer. A spokesperson for Catalyst declined to comment.

Catalyst has already invested in property in Italy, the UK, France and Germany through its previous fund, the €200 million WCC Europe Fund, with the firm increasingly looking to the Benelux region as well as the emerging markets of Central Europe.

In March, Catalyst announced the acquisition of four Italian assets from the Di Mario Group and Dimafin, for €84 million, including the recently-opened Galleria Levante shopping centre, in Bologna, and three supermarket units in Rome’s Via Collatina, Via Roiti and Via Boezi areas. The acquisitions were made through the WCC fund.

The firm has also recently branched out to India through a joint venture with Samsara Capital in Mumbai. The Catalyst Samsara India Opportunity Fund is believed to be targeting $130 million, according to people familiar with the matter.