Goodman Property Investors has launched its second European fund of funds.
The Goodman Eurozone Fund of Funds II, to be managed out of Amsterdam, expects to raise €500m (£389.5m) of equity over its 10 year lifespan. Initial equity commitments have reached more than €100m (£77.9m).
It is expected to provide a return of 10%.
The fund aims to provide Goodman with ‘a balanced and diversified portfolio of funds with investments in property assets located mainly within the Eurozone countries.
The fund will focus on specialist investment vehicles which target individual countries and sectors.
The fund launch follows Goodman’s first European fund of funds, which launched in July 2006 and has now closed its fundraising.
Andrew Smith, head of indirect investment at Goodman Property Investors, said: ‘We launched the original Goodman Eurozone Fund of Funds in the belief that European pension funds were becoming more receptive to investing in property outside their domestic markets and would be attracted by the indirect route.
‘We made a decision to launch a successor fund rather than continuing to increase the size of the first Eurozone Fund of Funds, as we believe this protects the best interests of our investors.’
