Rockspring raises over €200 million in first close of TransEuropean Fund

Posted on 14 October, 2015 by Cliff Goodwin

Rockspring Property Investment Managers has confirmed the first close of its sixth TransEuropean VI (TEP VI) fund.

Rockspring raises over €200 million in first close of TransEuropean Fund

Attracting total commitments of €217.5m (£162.8m) from five UK, French, Finnish and United States investors — representing more than half of the fund’s €400m (£299m) target — the vehicle now has close to €1bn (£748m) investment capability.

By adopting a high income, capital intensive strategy, TEP VI will focus on value-added opportunities across the office, retail, industrial and residential sectors in both Continental Europe and the UK.

Steered by Rockspring chief executive, Robert Gilchrist, the fund will benefit from both the on-the-ground expertise of the company’s seven European offices, as well as its 30-year track record of deal origination and value creation.

“To raise over half of our target equity in the first close is a fantastic result and we are extremely grateful to our investors for their ongoing loyal support and confidence in our team,” commented Paul Hampton, a Rockspring partner and fund director of the TransEuropean series.

“This first close is also testament to our fundraising capabilities and ability to source value in competitive markets,” he added.

“With over €200m (£149m) of transactions either already closed on or in due diligence, we are keen to conclude our fundraise so that we can focus on assembling the remainder of the portfolio.”

With further equity closings planned for the end of 2015, TEP VI is expected to be the largest in the TransEuropean series of funds.

TEP VI follows TransEuropean V, which closed in 2012 with over €350m (£261m) of commitments from 12 investors and which has since delivered a 21.5 per cent annual return. The TransEuropean series of funds were first launched in 1992 and have invested a total of €1.7bn (£1.27bn) across 14 European countries.

Founded in 1984, Rockspring currently has €8bn (£5.9bn) worth of funds under management. It specialises in the acquisition and management of commercial property throughout the UK and continental Europe on behalf of major institutional clients, either directly for single-client accounts or through the group’s series of investment funds.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions

Covid-19 Causes Millions To Claim UK Furlough Scheme