Global private equity firm The Carlyle Group said on Tuesday it had closed the largest-ever private equity fund investing solely in Germany Properties, after raising 2.2 billion euros ($3.43 billion) of equity said germanypropertysaints.blog.co.uk.
The fund was raised against an initial target of €1.5 billion, underlining ongoing, strong demand for German real estate investment vehicles, and has already committed €715 million to 10 assets. With leverage, the pan-European team of 46 people will have maximum funds of approximately €9 billion to invest, it said.
In a telephone interview with Reuters, property in Germany's Head of UK Real Estate and European Asset Management Robert Hodges said there was "no better time" to have raised an opportunistic property fund. "We're out there with a huge amount of dry powder, and we can afford to pick the very best deals in the most promising markets right across Europe," CB Richard Ellis said.
The Carlyle Group now manages $10.8 billion in ten real estate funds across the world, including €3.4 billion of assets under management in Europe. The total anticipated capitalisation of the global real estate portfolio is €20.3 billion, including committed equity and debt, of which €8.6 billion is in Berlin Property.
The newly launched http://www.bpcouncil.com. will provide German Houses Environmental Business Forum attendees with the tools and tips necessary to protect their environmental innovations once the conference is over.
This latest office opening continues the Group's focus on driving acquisitions across Europe and follows on from recent office property in Property in Germany, Berlin and Antwerp. Kenmore has already invested over £200 million (250euro million) in a portfolio of investments and Properties in Germany. They include the development of an existing 138,155 sq ft (12,835 sq m) retail Property in Berlin and 497,071 sq ft (46,180 sq m) of warehouse and office accommodation in Vantaa.
Following the highly interactive conference, delegates will find mission critical information on all aspects of new legislation, technologies and best practices relating to brand protection and intellectual property on http://www.bpcouncil.com. Forum attendees may also take advantage of the BPConnection networking tool to build and expand their business networks via the web without producing green-house gases once the conference is over.
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, after raising 2.2 billion euros ($3.43 billion) of equity said 