JP Morgan raises €1.18bn

The global investment firm closes fourth European opportunistic property fund.

JP Morgan Asset Management has held a final close of its European Opportunistic Property Fund IV at €1.18 billion of equity, giving it a total investment capacity of €4.7 billion. The oversubscribed fund is focused on investments and joint ventures in office retail, industrial and residential sectors across the EU, primarily targeting the United Kingdom, France and Germany.

Investors in the fund include the Florida State Board of Administration and Nordea Bank.