Natixis Capital Partners has closed its third private equity property fund, having raised €420 million (£391m) of equity from European institutional investors.

The Captiva Capital Partners III fund will split its investment in Germany and Italy in to three sectors.

The first, ‘Agapia’, will focus on German healthcare properties, the second, ‘Axiom’, will invest in German mixed-used and industrial properties, while the third, ‘Mercurio’, will target Italian retail warehousing properties.

The fund’s Italian investment also has a 49.9% interest in CDS Group, an Italian retail developer.

The private equity investor has a management team in Paris to source opportunistic property investments with redevelopment potential in France.

It currently manages two predecessor funds, Captiva I, focusing on Italian sale and leaseback portfolio, restructuring and Captiva II which formed and took public Alstria Office REIT AG.

John van Oost, managing partner at Natixis Capital Partners, said: ‘Since creating Naxitis Capital Partners in 2001, our strategy has focused on executing corporate transactions, including structured sale and leasebacks and pre-let developments.

‘As the global credit crisis has significantly reduced access to capital, corporations and governments are increasingly considering their real estate assets as an instrument to generate liquidity. Whilst this is particularly true in the current environment, we see this trend continuing in the longer-term.’