Jensen takes re-opened Russia fund to $155m

The St. Petersburg-based firm, led by founder and chief executive Steven Wayne, closed Jensen Russian Real Estate Fund II last June, but re-opened it in this May in order to raise additional capital.

Jensen Group, the Russian property investment fund and asset manager, has closed Jensen Russian Real Estate Fund II on more than $155 million in equity, after originally having fully closed the vehicle last year on $88 million. The St. Petersburg-based firm re-opened the fund this May in order to raise additional capital.

Since re-opening the fund, Jensen has managed to corral additional equity, including $35 million in a special purpose vehicle. Anna Rezhepp, an associate within the capital markets group of Jensen, said the firm recently had raised additional capital for the fund and that, at $155 million, the firm believed it to be one of the largest fundraises in Russia since 2008.

Jensen, which was established in 1991, closed its first fund on $100 million in July 2006 and invested that capital by July of the following year. Prior to founding Jensen, Wayne worked at Morgan Stanley in the bank’s corporate finance and real estate finance departments in New York and London.