Rockspring sets sights on TransEuropean V

London-based Rockspring Property Investment Management is to go on the fundraising trail shortly for its next European core-plus/value added fund, aiming to coral up to €400 million of commitments.

Rockspring Property Investment Management, the London-based firm, is set to begin fundraising its next European core-plus, value added fund, it said today.
Speaking at the company’s annual Christmas Lunch in central London, chairman Richard Plummer told guests it would soon begin fundraising Rockspring TransEuropean Limited Partnership V, aiming to corral €350-400 million.
Predecessor fund, TransEuropean IV saw its two-year investment period end in June having raised €274 million of commitments in 2008 from 13 investors, including the School Employees Retirement System of Ohio, Woelbern Invest AG, Industriens Pension, Vital Forsikring ASA, Windsor Trust and the $300 billion National Pension Service (NPS) of Korea. The first assets acquired for that fund included retail warehouses in Holland, Luxembourg and Spain, office properties near Paris, light industrial assets in Belgium and car showrooms in the Netherlands.
Rockspring gathered together a number of LPs for its lunch at Le Meridien hotel in Piccadilly where Plummer also highlighted recent successes such as a mandate announced in September to invest $400 million in core assets across Europe for NPS, and its UK Value Fund, which closed in June on £336 million ($502 million; €408 million) of commitments.