Sweden’s EQT Real Estate has raised €1bn (£910m) to invest in beds and sheds across Europe.
It exceeded its target of €750m, attracting backing from investors in Europe, the Nordics, Asia, North America and the Middle East.
EQT Real Estate II will focus on expanding on existing commitments in Sweden, France and the UK, including delivering 7,000 homes in the next five years.
It will target value-add investment opportunities ranging from €40m to €200m, including individual assets, portfolios, operating companies and joint ventures.
This includes its £1bn jv with Sigma Capital with plans to invest in 3,000 rental homes in London’s suburbs under the project Saturn. The fund has also committed finance to two urban logistics strategies in Sweden and a platform in France that intends to develop 4,000 homes for people with physical disabilities.
EQT is also exploring opportunities in Germany, Spain, Italy and Benelux.
Robert Rackind, partner and head of EQT Real Estate, said: “As we are entering a new investment cycle, we see a strong pipeline of attractive value-add investment opportunities that fit EQT Real Estate’s thematic approach to investing primarily into Europe’s key cities and in particular in our current focus on beds and sheds assets that are benefitting from positive growth drivers and secular trends.”
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