Harbert Management Corporation is preparing to market its third European fund, targeting €400 million to €500 million from third party investors.
The Alabama-based firm has invested almost 75 percent of the equity committed to its second fund, Harbert European Real Estate Fund II, which raised $315 million in 2007.
Among its most recent deals is the acquisition of a multi-let industrial portfolio in August from UK real estate company, SEGRO.
Harbert is an investment management firm with around $2.5 billion of assets under management in real estate, private capital and absolute return strategies.
The European business operates offices in London, Madrid and Paris. The firm declined to comment on its fundraising activities.