Providing c. £650 million of investment firepower, core-plus strategy will seek to achieve high sustainability credentials and leverage management’s 24-year sector track record.
Clarion Partners Europe, the real estate investment fund manager specialising in logistics and industrial assets, announces that it has held the final closing of its core-plus, closed-end UK logistics fund (“Fund”). Exceeding its capital-raising target, equity commitments totaling £427 million have been secured from a mix of European, North American, and Asian institutions, including investors in Clarion Partner Europe’s previous pan-European logistics strategies. The Fund, with gearing, will provide c. £650 million of investable capital and is now closed to new investors.
The Fund is Clarion Partners Europe’s first to solely focus on the UK, a market it recently re-entered following a seven-year break. It will target a portfolio of high-quality, ESG-compliant logistics assets underpinned by strong rental growth fundamentals in established UK logistics hubs. With the flexibility to invest across the asset class, from last mile logistics to big box single tenant warehouses, the Fund will target both best-in-class assets whilst also seeking to create value through investing in underperforming assets and selective development opportunities.
Source: press release sent received on 11 Jan 2024.