Blue Sky, KLP and Townsend clients back ECE European mall fund
Dutch pension fund asset manager Blue Sky Group, Norwegian municipal pensions giant KLP and clients of investment adviser Townsend Group are among new investors to back an open-ended European shopping centre fund managed by ECE Real Estate Partners.
Retail real estate specialist ECE said it has raised an additional €100m for its ECE Progressive Income Growth (EPIG) Fund, which invests in shopping centres across Europe. The specific contributions from each of the institutional investors were not disclosed.
The EPIG fund holds a portfolio of seven centres with a combined market value over €2.2bn.
The new capital will be used to acquire additional assets and for investing in the fund’s existing portfolio, the manager said.
Volker Kraft, managing partner of ECE Real Estate Partners, said: “The EPIG Fund has achieved outstanding operational results and income growth since its inception in 2019.
“We believe we are in a favourable market phase to acquire assets and continue to raise capital for our investment programmes.”
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