UK/EUROPE - Property fund manager Warburg-Henderson is launching its third pan-European fund aimed at institutional investors.
The fund will primarily invest in office and retail properties in the UK, France, Italy and Germany.
The fund has received commitments of £102.8m from investors and Warburg-Henderson expects this to grow to approximately £170m.
Once the fund’s initial portfolio has been established, the firm will look to acquire properties in Spain, the Netherlands and Belgium.
The fund will be geared to a maximum of 50% loan to value, so that the total property portfolio will be worth between E300m (£205m) and E500m (£342m).
Head of portfolio management Michael Howard said: “Our investors are seeking stable returns from property as an antidote to volatility in the equity markets.
“Quality assets providing secure, long-term income are at the top of our shopping list.”
Warburg-Henderson is a joint venture between Henderson Global Investors and the German independent private bank MM Warburg.
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