With December around the corner, independent London-based asset manager Aermont is leading the pack for holding the largest final close of a Europe real estate fund so far this year.
Its Western European value added vehicle, Aermont Capital Real Estate Fund V, held a final close at the end of July on $3.87 bn (€3.75 bn), the largest amount of anyone according to data from Preqin.
The firm exceeded its €3 bn target and comfortably surpassed predecessor Fund IV which closed on €2 bn in 2018. Large investors in the new fund include New York State Teachers’ Retirement System, which committed €270 mln.
Aermont celebrated 15 years in business in 2022 and is co-owned by five partners led by founder, Léon Bressler.
According to Preqin data supplied to PropertyEU, the second largest fund to close so far this year belongs to Brunswick Real Estate Capital, which has just been acquired by fellow Nordic firm, Niam. In March, the company held a final close for lending vehicle, Brunswick Real Estate Capital III, on $1.52 bn.
Ardian is currently in third spot with Ardian Real Estate European Fund II, followed by Cheyne Capital Management with Cheyne Real Estate Credit Holdings Fund VII.
AMPERE Gestion, BC Partners, PLP, BNP Paribas, Actis, Savills IM/DRC, Bridges FM, Heleba, Cheyne again, and GEG also feature in the top ranking.