Savills Investment Management has launched an open special alternative investment fund European Logistics Fund 3.
ELF 3 will focus on investments in high-quality distribution centres and cross-docks in Europe’s core liquid logistics markets.
Two German institutional investors have committed €122m (£108m) into the fund, which has a target investment volume of at least €600m and a maximum debt ratio of 50%.
ELF 3 follows on from predecessor fund ELF 2, which raised €560m by the beginning of 2019.
ELF2 invested in 22 logistics assets totalling €645m in six countries and the fund is expected to grow to a volume of almost €900m.
Rena Knöpke, head of business development for Germany, Austria and Switzerland at Savills IM, added: “The overwhelming response by investors to ELF 2 has helped to make it one of Savills IM’s flagship funds. The strategy has convinced investors.
“Due to continuing high demand, we are pleased to offer another pan-European logistics strategy for institutional investors.”
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