Catalyst Capital has closed its first dedicated European real estate fund, the Catalyst European Property Fund, with EUR228.5 million in assets under management. Peter Kasch, managing partner in London, said the move is due to the current global economic conditions. "Our efforts are now concentrating on identifying acquisition opportunities where we can add value during a recovery period in the markets, particularly in established prime markets."
Despite the current turbulent global economic environment, Catalyst has seen substantial support from institutional investors in both Europe and North America, said Kasch. These have included pension funds, endowments, foundations and charitable trusts, he added, declining to disclose names.
Catalyst anticipates focusing the fund on opportunistic investment opportunities in the U.K., France, Germany, Italy, Belgium and selected markets in Central Europe. It will use the firm’s extensive network of institutional and local contacts along with its in-house expertise, said Kasch.
Catalyst purchases, develops and manages retail, office and industrial real estate, based upon opportunistic or value-added strategies with a total of over EUR4.1 billion in assets under management. The firm focuses its real estate activities in the U.K., France, Germany and Italy, with growing interests in the Benelux and the major emerging markets of central Europe.