Meyer Bergman, the investment manager specialised in value-add strategies for retail-led real estate, has secured €741 million of equity commitments from international institutional investors for its third fund and associated co-investment vehicles at the final close of capital-raising.
Meyer Bergman European Retail Partners III (MBERP III) held its final close with commitments from 15 international pension funds, endowments and other institutions. London-headquartered Meyer Bergman advises on the investments that it also sources for the fund.
Marcus Meijer, Chief Executive Officer at Meyer Bergman, said: “There are fantastic investment opportunities in European retail real estate with the right approach and know-how. This capital-raise endorses our strategy of identifying under-managed or under-utilised properties to stabilise them so that they become resilient and defensive investments for long-term institutional owners.”
North American investors accounted for 49% of the capital raised, with the balance coming from Europe, Asia and the Middle East. Investors who re-upped provided 55% of the equity in the capital-raising.
MBERP III has made 11 investments to date, meaning around €410 million of the raised capital is deployed or committed. This figure excludes debt finance.