ICG Real Estate has completed the final close of the second vintage of its Metropolitan opportunistic real estate strategy securing commitments of €1.4bn.
The ICG Metropolitan Fund II surpassed its €1bn target owing to strong demand from a globally diverse group of investors including sovereign wealth funds, pension funds, insurance companies and asset managers.
The fundraise brings the total amount raised for the Metropolitan fund series to €2.2bn since its inception in 2022. The fund’s highly diversified portfolio comprises approximately 100 European industrial and logistics assets let on long-term, inflation-linked leases.
Krysto Nikolic, global head of ICG Real Estate, said: “We are delighted to be holding the final close for ICG Metro II at €1.4bn following strong demand from our global investor base, as well as a number of new clients to the firm. The success of this fundraise reinforces our position as a market leader in European Industrial and Logistics investing and the creation of high quality triple-net lease portfolios.”
Benoît Durteste, CIO and CEO of ICG, added: “We are grateful for the support shown by Metropolitan’s new and existing investors. Their confidence underpins our belief that ICG’s real estate division is an exciting long-term growth driver for the firm.”
