Hines, the global real estate firm, is set to launch Hines European Value Fund 3 (HEVF 3), expected to be its largest closed-end fund to date in its growing flagship series of value-add funds in Europe, targeting equity commitments of approximately EUR1.5 billion.
HEVF 3 intends to build on Hines’ principles of value-add investing applied across the fund series so far – high conviction thematic investment into tactical opportunities for value creation, supported by fundamental trends and capital markets inefficiencies. Hines will adopt an approach of confining investment of HEVF 3 to what it considers to be the most liquid, institutional set of primary markets in Europe and applying its in-house real estate skillset to actively create value at the asset level.
HEVF 3 will seek to build a portfolio diversified by markets, sectors and risk profiles, and is expected to have dominant allocations to logistics and office. The first closing of HEVF 3 is expected to take place in early-Q2, with further commitments to follow throughout 2022.
HEVF 3 will also pursue market-leading sustainability credentials, embracing GRESB, the leading ESG benchmark for real estate and infrastructure investments across the world. It will build on the success of its predecessor, Hines European Value Fund 2 (HEVF 2), which, in 2021, was awarded five green stars out of five and lauded with several accolades such as the Overall Global Sector Sustainability Leader.
In Europe, Hines continues to expand, with approximately 650 employees across 13 countries in the region and a total AUM of EUR21.7 billion. Hines marked its 65th anniversary in February this year with the appointment of Laura Hines-Pierce as Co-CEO, one of the few female CEOs in real estate globally.
Source: hines.com on the 28th of February
https://www.hines.com/news/hines-set-to-launch-its-third-european-value-add-fund-targeting-1-5-billion