French fund manager Stam Europe is seeking to raise EUR 400 mln of equity for its fourth European value-added fund, which is expected to hold its first close in the first quarter of 2012.

Stam Rei IV will make use of 50% of debt, giving it a spending power of EUR 800 mln, according to Stam Europe's chairman Antoine de Broglie. The fund will target acquisitions exclusively in France, which will make up for roughly 75% of its portfolio, and in Germany, which will account for the remaining share.

The company's third fund, Stam REI III, is currently fully invested, with the latest acquisition being last month's joint purchase of the Carré Bréguet project in Paris for around EUR 110 mln.

De Broglie said the group is also preparing the launch of its first mezzanine debt fund. 'We are working on the launch of a large mezzanine financing investment platform,' he anticipated. 'This is on behalf of a separate account and there is nothing else I can say for the moment.'