is looking to raise capital from institutional investors for a third European property fund.
The investment manager鈥檚 existing 鈧�750m fund is now fully committed, following the 拢80m (鈧�113m) purchase of a mixed-use asset in London.
The acquisition of the luxury fashion store in Mayfair, announced today, means the fund manager can begin seeking global capital for a follow-on vehicle.
Meyer Bergman is likely to co-invest in the new fund, which will target dominant retail assets in need of asset management or refurbishment.
Markus Meijer, chief executive, said: 鈥淲e have already begun work on the successor fund, which will enable us to take advantage of the number of opportunities we continue to see in the European market.鈥�
For the European Retail Partners II (MBERP II) fund, the Westfield Broadway shopping centre development in Bradford was bought as a forward-purchase, seed investment alongside the fund鈥檚 first close. The asset is due to open in November.
15 pension funds, endowments, and asset managers from Asia, Europe, the Middle East and North America.
New Jersey Division of Investment and Virginia Retirement System are among investors in MBERP II, as .
As well as Westfield Broadway, the second fund鈥檚 portfolio includes prime retail buildings on Bond Street, Piccadilly and Queensway in London, on the Champs-Elysees in Paris, Kobmagergade in Copenhagen, two Karstadt department stores in Berlin.
