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Europa targets €750m for Fund V

The London-based private equity real estate firm has also hired former AEW Europe fundraiser Schalk Visser to expand Europa’s institutional relationships.

Europa Capital, the London-based private equity real estate firm, is launching its fifth pan-European value-add fund targeting equity commitments of around €750 million.

The firm will target a similar strategy to its prior funds which are focused on the repositioning of real estate into institutional-quality assets; loan restructurings where a new infusion of equity is required; acquiring prime assets from motivated sellers; and the recapitalizations of assets or loans where the fund will act as the new borrower or sponsor.

The predecessor fund – Europa Fund IV – had a final close on €604 million in July last year. The firm first hit the fundraising trail with Fund IV in early 2012 with a €750 million target, before holding a first close of around €200 million in October of that year. Fund IV is nearing the end of its investment phase and has so far made 15 investments in eight European countries.

To kick start the fundraising efforts for Fund V, Europa has also hired Schalk Visser, who has joined as partner and head of equity capital markets, with responsibility to expand Europa’s institutional relationships globally.

“We are delighted that Schalk has joined Europa Capital. He brings with him a high level of fund management and capital raising experience, and will be an important member of the team,” Noel Manns, principal at Europa Capital, commented.

Visser previously worked as managing director at the Paris-based private real estate investment firm AEW Europe, where he was also a member of the executive committee. Prior to this, Visser worked as senior director at CBRE Global Investors in London.

Europa, which has been operating since 1995, has raised eight funds that have invested in over 90 transactions valued at more than €9 billion across 18 European countries.

Europa declined to comment further on fundraising.