Barings Real Estate Advisers has raised more than 鈧�500m for its pan-European core open-ended property fund.
The investment manager, which is owned by US insurer MassMutual, has been expanding in Europe and is to have recently launched new pan-European core open-ended vehicles.
According to a Securities and Exchange Commission filing in the US, the Barings European Core Fund has raised 鈧�506m in capital.
The filing said more than half of the capital (鈧�330m) came from third-party investors, meaning MassMutual has provided approximately 鈧�176m in cornerstone capital.
Barings, which did not comment, has been increasing its activity in Europe recently, investing on behalf of MassMutual and third-party investors.
Last week, it announced it made 鈧�1bn of transactions in Europe 2016 and increased its assets under management in the region to 鈧�4bn.
The European real estate business of Barings was born out of MassMutual鈥檚 in 2009, which it brought into its Cornerstone Real Estate Advisers subsisdiary. Last year, along with a number of other MassMutual subsidaries.
The fund is one of a number of new pan-European open-ended core funds to enter the market. Investment Managers-Real Assets and are among companies to have created new vehicles, bringing them into competiton with more established vehicles.
Last week, AXA IM-RE for its fund.
