Henderson raises €280m more for retail fund

Director of retail property at the firm says he is still confident the vehicle can clear its 9 percent annual IRR hurdle.

Henderson Global Investors has held a second closing of the Henderson European Retail Property Fund, having raised an additional €280 million ($412 million) on top of the €427 million raised at first close in December 2005.

The second round of fundraising attracted 16 new institutional investors, bringing the total to 39. Investors in the second close are Merrill Lynch European Property Fund of Funds, NFU Mutual, Deutsche Ring, and clients of Morley Fund Management.

The fund is investing in retail warehouses and shopping centers in Eurozone countries with a particular focus on Spain, Italy, France and Germany. It is structured as a Fonds Commun de Placement vehicle (FCP) domiciled in Luxembourg.

Neil Varnham, director of property, retail (Europe) said he was confident the fund could continue to outperform its 9percent annual IRR hurdle.