CBRE GI raises €140m for restructured European industrial fund

 The property services firm has raised €140 million of fresh equity for its industrial fund through secondary transactions.  

Global real estate investment management firm, CBRE Global Investors, has raised €140 million of fresh equity for its European Industrial Fund.

The capital was committed by three new and two exiting investors through secondary transactions.

In a statement announcing the recapitalization, the property services company said that the European Industrial Fund has been re-launched following its restructure and the introduction of an improved governance framework.

“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,” said Mike Clarke, head of EMEA Investor Services.

The fund, for which CBRE GI invests in prime logistics assets in Europe, has a seed portfolio of assets valued at €465 million. The firm said it hoped to grow the value of the fund’s assets to €800 million through investments made over the coming three to four years.

This restructuring comes a few months after secondary transactions were announced for the €1.2 billion CBRE Dutch Office Fund. In June, Netherlands-based pension fund manager Blue Sky Group acquired a significant stake in the fund on the secondary market, though the exact value of that deal remains undisclosed.