Harbert raises €662.4m for Europe fund

Harbert Management Corporation (HMC), a US firm based in Alabama, has finished raising equity for its latest European real estate fund.

Led in Europe by senior managing director and fund manager, Scott O’Donnell, the firm explained how the company was investing in assets with value added potential in major markets.

Total equity commitments to Harbert European Real Estate Fund V (HEREF V) amount to €662.4 mln, the largest amount it has ever raised for a Europe closed ended fund. It first began buying into European real estate in 1998.

Investors in the latest fund come from both the US and Europe, and some €45.6 mln has been invested in three deals so far, with another three in exclusivity across the office, retail, logistics and residential sectors.

HMC specialises in alternatives and it manages around $6.3 bn of AUM as at 31May 31, 2019. It is privately owned and was founded in 1993.




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