Azora has launched a new European multi-strategy vehicle having raised €270m in equity commitments from a sovereign wealth fund, giving it a total investment capacity of up to €500m.
The new vehicle, which has an investment horizon of five to 10 years, has been established to target opportunities across the entire real estate sector, with a primary focus on southern Europe.
Cristina García-Peri, managing partner of strategy and corporate development at Azora, said: “In the current highly volatile and uncertain environment, large institutional investors rely on expert managers with a combination of in-depth real estate sector expertise, a strong track record of delivering outperformance and the ability to access a wide range of investment opportunities.
“The €277m we have raised from this sovereign wealth fund client for our latest European multi-strategy vehicle is a significant endorsement of our ability both in this respect and of how we are able to tailor vehicles to our clients’ requirements.”
Javier Rodríguez Heredia, managing partner of Azora’s Real Estate Area, added: “New trends in the way we live, work, and play will require a major transformation in how assets are used, designed and adapted to meet current and future environment standards.
“Against a macro economic backdrop of high volatility and rising interest rates, delivering performance from real estate assets will only be achieved through active and professional management or though being flexible and nimble in when to make investments. We have already identified a strong pipeline of opportunities across different markets and sectors and look forward to deploying this capital and generating returns on behalf of this investor.”
