Le mie ricette per la real estate communityHenderson Park, the pan-European private equity real estate platform, announces that it has closed its first fund, Henderson Park Real Estate Fund I (‘HPREF I’ or ‘The Fund’), having raised $2.2 billion, exceeding its original target of $950 million. The Company has also secured an additional $750 million of co-investment capital which has been deployed alongside the Fund in building a $5.4 billion pan European portfolio.
The capital commitments were raised from a wide range of pension funds, insurance companies, sovereign wealth funds, endowments, family offices and high net worth individuals from across the globe. HPREF I was seeded with a $500 million cornerstone commitment from Stone Point Capital, Kuwait Investment Authority and Wafra Investment Advisory Group.
HPREF I aims to make equity commitments of between $50 million and $150 million per deal into value-add and opportunistic real estate investments across Europe, primarily targeting highly-liquid gateway and capital cities in the UK, Germany, France, Spain and Ireland. It seeks high-quality assets in prime locations, where Henderson Park’s team can see potential to unlock or create value through asset management initiatives or by taking on and working through complex situations.
The Fund has a diversified investment strategy that can access transactions both directly, into real estate assets and portfolios, or indirectly, through corporate acquisitions. HPREF I can invest in all asset classes but focuses primarily on hotels, offices, industrial and student housing, as well as multifamily.
The Fund portfolio currently comprises 19 investments including the iconic Le Meridien Etoile and Westin Paris-Vendôme hotels in Paris; two of the UK’s largest hotels, the Hilton Metropoles in London and Birmingham; the Los Cubos office building in Madrid; Athene Place and Woolworth House offices in London, and the Grand Hyatt hotel in Athens. The Fund is also invested in two student housing development schemes in the UK (Lancaster) and Spain (Barcelona).
On behalf of the Fund Henderson Park has already built a significant portfolio of over 2,000 build-to-rent units in London which includes developments such as the recently announced acquisition at the former Royal Mail depot in Battersea Nine Elms, as well as in Walthamstow and Croydon, where it will deliver the world’s tallest modular tower. In addition, HPREF I also owns an operating portfolio of PRS apartments in Aldgate, Fulham and Battersea Nine Elms.
Source : Company