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Orion raises €1.28bn for European fund

The firm has closed Orion European Real Estate Fund III having committed €300 million of equity so far.


European firm, Orion Capital Managers has raised €1.28 billion for its latest vehicle, Orion European Real Estate Fund III.

The company fronted by Van Stults, Bruce Bossom and Aref Lahham, have committed approximately €300 million of the equity so far.

“We were significant net sellers in 2006 and 2007. Therefore, Orion is well positioned to be acquiring the attractive larger portfolio transactions we are now seeing as a result of the market pressures,” Lahham said in an announcement on the fundraising.

Investments publicised to date include a fully let office building in London, a Spanish mall, and a French investment, reported to be a debt deal.

Official news of the fundraise comes two days after PEREnews.com opened the voting for the 2009 annual global private equity real estate awards. Orion is suggested as a candidate in the European fundraising of the year category.

Credit Suisse advised the firm.