BNP Paribas REIM raises €200m for Eurozone logistics fund

BNP Paribas REIM has reached an aggregate of €200 mln of equity commitments to its Eurozone logistics fund (ELF), after clinching further investor commitments in Q4 2018 and Q1 2019.

'This new closing demonstrates the European expertise of BNP Paribas REIM and its ability to offer focused strategies to institutional investors from different countries,' said Henri Romnicianu, head of institutional clients, Europe.

'ELF perfectly meets the requirements of pension funds and insurance companies looking for core income-driven strategies backed by long-term structural drivers,' Romnicianu added.

The grade A logistics-focused fund was launched in Q3 2017 with additional closings taking place in 2018. The current group of investors consists of pension funds and insurance companies from France, Italy, Spain, Belgium and Ireland with an investment capacity of approximately €300 mln, according to the investment manager.

The final closing of the fund is anticipated for this summer 2019, with a target of €400 mln.

The fund has recently secured a fourth acquisition in Germany in an off-market deal, in line with the other three transactions to date.

ELF is a SICAV-SIF managed by BNP Paribas REIM Luxembourg, dedicated to international institutional investors and targeting an annual distribution of 5.5%.

BNP Paribas REIM's Barbara Knoflach is the subject of PropertyEU's Big Interview in the April 2019 issue.


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