Three fund managers pulled in a total of £1.8bn this week as cash continues to flow into the property sector despite political uncertainty across Europe.
PGIM Real Estate raised more than £1bn for its Pramerica Real Estate Capital VI European debt.
Andrew Radkiewicz, global head of debt strategies at PGIM Real Estate, said: “We are delighted with the strength of investor participation, particularly after the Brexit vote. We saw an increase in commitments from institutions’ real estate, private credit and alternative fixed-
income allocations, due to the sustainable risk-adjusted returns offered by this asset class.”
BlackRock Real Assets completed a €700m (£595m) final close of its Europe Property Fund IV, which targets European value-add assets.
Marcus Sperber, head of BlackRock’s global real estate business, said: “In today’s volatile markets, institutional investors are making significant shifts to illiquid assets that can help them generate income and higher potential returns over a long time horizon.”
Knight Frank Investment Management’s Long Income Property Unit Trust also had a second close of £307m, reaching £507m in committed equity.
