Property company Catalyst Capital has closed its first dedicated European fund, the Catalyst European Property Fund with a total of €228.5m of committed capital.
Catalyst said: ‘Despite the current turbulent global economic environment, Catalyst has found substantial support from institutional investors from both Europe and North America. These have included pension funds, endowments, foundations and charitable trusts.’
It said the fund would build on Catalyst’s well established track record of real estate investment and asset management activities from its offices in London, Paris, Frankfurt, Milan and Warsaw.
Catalyst said the fund would primarily focus on opportunistic investment opportunities in the United Kingdom, France, Germany, Italy, Belgium and selected markets in Central Europe.
Peter Kasch, managing partner at Catalyst Capital, said: ‘We are very pleased to have closed given the current global economic circumstances. Our efforts are now concentrating on identifying acquisition opportunities where we can add value during a recovery period in the markets, particularly in established prime markets. Investment is now focused on cash flow and is as attractive as we have seen in twenty years.’
Park Hill Real Estate Group acted as placing agent for the fund. Nabarro also acted on behalf of Catalyst Capital.