BlackRock Private Markets has raised € 774 million in a first close for its latest value-add real estate fund.
The capital has been provided by a range of institutional investors, including new clients and investors from previous vintages.
Europe Property Fund VI (EFVI) will invest in “the most liquid markets in Europe”, such as the UK, France, Germany, the Nordics and Spain, BlackRock said, adding that it will target high-quality assets aligned with the structural “mega forces” driving the economy and future occupier demand.
The fund manager said these mega forces include demographic shifts, digital disruption, and the transition to a low-carbon economy and a net-zero built environment.
BlackRock sources said the fund will focus on the need to develop student housing and new residential units, and to provide “business-critical” logistics and data centre premises in undersupplied markets.
EFVI is classified as an Article 8 fund under the EU’s Sustainable Disclosure Finance Regulation and aims to create future-proof assets with strong ESG credentials, including high-energy efficiency and pathways to net-zero emissions.
Source: realassets.ipe.com on the 11th of December, 2023
https://realassets.ipe.com/news/blackrock-raises-774m-for-sixth-value-add-property-fund/10070587.article