Rockspring has launched the TransEuropean VI fund to invest in office, retail and industrial properties across continental Europe and the UK.
The fund, which will target equity of around €400m (£287m), will be geared to 50% and is expected to deliver spending power of €800m-€900m. It will be the largest fund raised to date in Rockspring’s TransEuropean series.
The previous fund, TransEuropean V, raised over €350m in 2012 from 12 investors from 10 countries across four continents. TE V is 95% committed and has delivered a 16.6% net IRR pa.
Paul Hampton, Rockspring partner and fund director of the TransEuropean series, said: “Through the launch of TEP VI, we are seeking to further leverage our deep-seated pan-European experience and the market opportunity to drive competitive income-based returns for our investors.
“In the current market cycle, where liquidity is back and distress is pretty much gone, it is asset management capabilities and local presence that will make the difference.”
