Deutsche Asset Management has announced the first close of its new open-ended pan-European, core real estate fund, achieving first commitments of €568m (£509m) from 12 institutional investors from across Europe and the United States.
Focused on income and capital growth, the institutional fund will invest across core locations in larger European economies as well as in diverse sectors, including office, retail and logistics.
The fund attracted investors from the Netherlands, the United States, Germany and Switzerland.
Georg Allendorf, head of real estate Europe at Deutsche AM, said: “Our established local presence across Europe and proven reputation in core investing has resulted in this great fundraising achievement. With a positive market landscape across Europe, we look forward to delivering upon this investment strategy for our investors.”
Deutsche AM currently holds €49.7bn globally in real estate assets under management as of June 30, 2017.