Pan-European real estate investment manager Tristan Capital Partners has raised €2 billion of capital for its latest value add/opportunistic fund, European Property Investors Special Opportunities 6 (EPISO 6).
EPISO 6 is Tristan’s 12th fund, targeting a projected 12-14% triple IRR by investing in Western and Central European real estate markets across the high-grade office, logistics, living strategies, hospitality, and life science sectors.
EPISO 6 has made strategic investments including the acquisition of the Point A hotel brand, an office complex in the Netherlands and a residential portfolio in Germany in addition to deploying capital to support a logistics acquisition strategy in Finland.
EPISO 6 was fully subscribed with a total of more than 20 investors including both existing and new clients. Clients are predominantly from the pensions, family office and foundations, insurance, and sovereign funds sectors. 55% of EPISO 6 clients are from Europe, Asia, and the Middle East and 45% are from North and South America.
Ric Lewis, Founder and Co-CIO of Tristan, said: “When we held our first close around a year ago, we could not have predicted or imagined the challenges that lay ahead in 2022. Despite major macro and market headwinds, we have successfully raised around €2bn of capital into our latest opportunistic fund from a loyal base of existing clients and even welcomed new clients into our funds. Our focus for this fund is to continue to invest in supply constrained markets across Europe where we see upside optionality.”
Its predecessor, EPISO 5 had a final closing of €1.7bn in February 2019 and is fully committed with 30 investments across Europe.