Real estate private equity investor Highbrook Investors has closed its most recent fund, Fund IV, significantly oversubscribed above its target at $632 mln (€612 mln)
Similar to its predecessor fund, Fund IV targets industrial, residential, and creative office assets and focuses on deep value and exceptional situations.
The Fund concentrates on select markets in Western Europe, such as the Netherlands, Germany and Denmark, and may also acquire assets in the US that fit with HighBrook’s broad sector themes.
HighBrook has so far purchased 80 buildings for Fund IV, the majority of which are urban in-fill, last-mile warehouses.
Brian Carr, managing partner, HighBrook Investors, said: ‘We are grateful to both our existing and new limited partners for their strong support and commitment to HighBrook, particularly in a challenging economic environment. Their support allows us to continue our nimble yet highly focused investment approach with an emphasis on preservation of capital while capitalizing on high-quality value opportunities.’
Robert Giusti, CIO and head of Europe, HighBrook Investors, added: ‘We believe the European market will continue to offer compelling investment opportunities, especially as the recent market volatility begins to result in distressed and special situations. We will continue to utilize our extensive local relationships and market knowledge to source and identify deep value opportunities across markets and property types.’
Leading endowments, foundations, public pension funds, fund of funds, family offices, consultants, and wealth managers are among the investors in Fund IV.
The Fund's exclusive placement agent was Monument Group.