US-based real estate private equity firm HighBrook Investors has raised $632 million (€612m) for its most recent fund, HighBrook Property Fund IV.
Fund IV targets industrial, residential, and creative office assets in Europe.
The fund focuses on select markets in Western Europe, including the Netherlands, Germany and Denmark and may also selectively acquire properties in the US that are consistent with HighBrook’s overall sector themes.
On behalf of Fund IV, HighBrook has thus far acquired 80 properties comprised predominantly of urban in-fill, last-mile warehouses.
“We are grateful to both our existing and new limited partners for their strong support and commitment to HighBrook, particularly in a challenging economic environment,” said Brian Carr, Managing Partner, HighBrook Investors. “Their support allows us to continue our nimble yet highly focused investment approach with an emphasis on preservation of capital while capitalizing on high-quality value opportunities.”
Investors in HighBrook Property Fund IV include a variety of leading endowments, foundations, public pension funds, fund of funds, family offices, consultants and wealth managers. Monument Group acted as the exclusive placement agent for the Fund.
“We believe the European market will continue to offer compelling investment opportunities, especially as the recent market volatility begins to result in distressed and special situations,” said Robert Giusti, Chief Investment Officer and Head of Europe, HighBrook Investors. “We will continue to utilize our extensive local relationships and market knowledge to source and identify deep value opportunities across markets and property types.”
“Limited partners clearly found HighBrook’s cycle-tested team, demonstrated investment acumen and exit discipline, and breadth of experience to be highly differentiated and compelling,” said Lori Campana, Partner at Monument Group. “We saw interest for Fund IV across geographies and investor segments and were pleased to have support from Fund III’s limited partners. We appreciate the opportunity to assist the HighBrook team with the fundraise and wish them continued success.”