COPENHAGEN, DENMARK-Sparinvest Property Investors has suceeded in raising around $200 million (EUR 153M) with its third global real estate fund.

Sparinvest Property Fund III will continue the global investment strategy of the previous fund with a focus on mid-sized local operating partners. The Fund will primarily invest in the Americas and Asia and less so in Europe. The return target for the Fund is 11-13% net IRR.

Two Danish pension funds Laerernes Pension (Teacher's Pension) and AP Pension are among the four founding investors. The target for the fund is to reach around $520 million (EUR 400M) in equity capital before final closing.

“We are proud of the support that our existing investor base has shown us. We expect to raise additional capital over the coming months and are involved in a number of promising conversations with both existing and new investor,” says managing partner, Bo Jensen.

“The current times provide an interesting opportunity to generate attractive risk-adjusted returns for those investors who are willing to invest with hands-on operators. We believe the depth of our experience, analysis and relationships in the market, position us well to capitalize on this opportunity,”

As part of the first closing, Sparinvest Property Fund III will commit to three managers and over summer a fourth investment is expected to follow. The first three investments are with two managers in the US and one debt manager in the UK.

Sparinvest Property Investors was founded in 2005 and is exclusively focusing on indirect real estate investing. Sparinvest Property Investors manages three global real estate funds with total commitments of approximately $1 billion (EUR 800M) and is part of the Sparinvest Group with approximately $13 billion (EUR 10B) assets under management.