Pan-European private equity real estate firm Henderson Park has raised $2.2 bn (€1.95 bn) for its first fund, smashing the original target of $950 mln (€840 mln).
A global mix of institutional investors and high-net-worth individuals have invested in the Henderson Park Real Estate Fund I (HPREF I), which will target deals of between €44 mln - €132 mln across asset classes of a value-add or opportunistic nature, in prime locations in the UK, Germany, France, Spain and Ireland.
Seed capital totalling €442 mln was provided by Stone Point Capital, the Kuwait Investment Authority and Wafra Investment Advisory Group.
Nick Weber, founding partner of Henderson Park, said: ‘To have attracted such strong support for our debut fund from such a wide ranging and international pool of investors is a huge endorsement of the team we have built at Henderson Park, the deals we have already undertaken and the strategy we have set out.
‘Over the past two years we have been very targeted in our approach to investments. We have leveraged our team’s track record and network of operating partner relationships to build a significant portfolio of high-quality assets where we have identified the opportunity to create value.
‘I would like to take this opportunity to thank all our investors for their commitment to our first fund. We are honoured and humbled by the levels of support we have received, and now look forward to delivering on our strategy.’
Henderson Park’s portfolio of European properties comprises €4.8 bn AUM, including Le Meridien Etoile and Westin Paris-Vendôme hotels in Paris; two of the UK’s largest hotels, the Hilton Metropoles in London and Birmingham; the Los Cubos office building in Madrid; Athene Place and Woolworth House offices in London, and the Grand Hyatt hotel in Athens.
The company has developed 2,000 build-to-rent residential units in London, and recently acquired the former Royal Mail depot in Battersea Nine Elms.