Lazard Frères is to launch a third Prometheus property fund, the first that will include Europe on its buy list.
Prometheus Realty Investors III is expected to raise $2bn. It will target Europe and Asia, aiming to take equity stakes in real estate companies rather than buy property directly.
The US investment bank has raised around $2.3bn with the first two Prometheus funds, but has not so far acquired substantial assets in Europe.
