Europa raises €750m for Europe

London private equity real estate firm Europa Capital has closed two vehicles giving it €2.5 billion of acquisition firepower to capitalize on 'difficult and volatile credit conditions.'

Europa Capital Partners, the London-based European property fund manager, has attracted €750 million ($1.1 billion) in equity capital commitments for two new funds.

Europa Fund III, which garnered €600 million, is Europa’s third pan-European fund targeting Western and Central Europe. The second vehicle, the Emerging Europe Fund, targeting Eastern Europe has gained €150 million of subscriptions. This fund has made two investments, committing more than €30 million into logistics properties in the Ukraine and Western Romania.

In a statement, Europa said more than two thirds of the equity had come from North America with the rest from Europe and other parts of the world. Much of the new capital has been committed from endowment funds, foundations and corporate and state pension institutions, many of which invested in previous Europa Capital funds.

Noel Manns, a principal at the firm, said the capital provided Europa with a “significant war-chest” to capitalise on the opportunities the firm was seeing during “difficult and volatile credit conditions.”