Nuveen Real Estate has secured an additional €40m in capital commitments for its pan-European diversified value add strategy from a Canadian institutional investor.
The latest commitment gives the strategy more than €500m of ‘dry powder’ following initial capital secured last year from Danish pension fund Sampension, Nuveen’s parent company TIAA, and a further Danish institutional investor.
Fundraising for the strategy, which has a cross-sector outlook and will source opportunities across Europe and the UK initially focusing on urban logistics, housing and alternatives, will continue during 2023.
David Pearce (pictured), fund manager, real estate, Europe at Nuveen, said: “The macro-economic backdrop continues to have a profound impact on the European real estate landscape, presenting a unique opportunity for us to leverage our track record and experience to source attractive risk adjusted returns in our target sectors with a particular focus on housing, student accommodation, self-storage and light industrial. We are delighted to see this story continue to resonate with investors across the globe.”
