Hines secures c.€800M at First Closure for New European Open-Ended Core-Plus Fund
The fund has already secured exclusivity on two separate deals in the living and office sectors.
Hines, the global real estate firm, announced that Hines European Property Partners (“HEPP” or the “fund”), its new diversified, open-ended core-plus fund focused on key European markets, has secured c. €800 million of equity commitments from investors at its first closing, less than three months after the fund’s launch.
Embarking on an accelerated program of equity raising, the fund has attracted a wide range of both new and existing investors, from the U.S and Europe.
The fund aims to attract €1bn in investor equity in the first 12 months from investors around the world.
Launched in early 2022, HEPP is led by Jorge Duarte, who joined Hines from Barings to take up the role of fund manager.
The fund is seeking to acquire and develop sustainable assets across a range of sectors including logistics, office, living – residential, student, and senior housing.
HEPP will leverage Hines’ expertise and presence in 17 offices across Europe to identify investment opportunities in Europe’s most dynamic urban centers and gateway cities. The fund has already secured exclusivity on two separate deals in the living and office sectors.