Tristan Capital is closing in on its target to raise €500 million for its European core-plus, value added vehicle, Curzon Capital Partners III.
The London based firm, which is led by chief executive Ric Lewis, has held a second close of more than €300 million, and is in due diligence with other investors as it moves towards a subsequent close in late November.
Tristan has been raising money for seven months, it said today.
Lewis added in a statement: “Tristan is clearly benefitting from first-mover advantage with our new core plus/value-added strategy fund, which is attracting institutional capital from across continental Europe and the US.”
Seven new institutional investors from Germany, France, The Netherlands and Finland invested in CCPIII at the second close, joining four earlier participants from Germany, Finland and the UK.
The fund has completed several major investments in the last few months including the purchase of an office block in Glasgow, Scotland, a retail and residential complex in Düsseldorf, Germany, and a high street retail shopping centre in the UK, and the provision of €100 million in funding for a pan-European logistics developer.
It held a first close in June on €60 million.