Hines, the global real estate firm, has raised c €900 million of equity from institutional investors at the first closing of its new value-add fund, Hines European Value Fund 3 (HEVF 3).
A group of 15 investors, predominantly existing investors in the successful series, joined this first closing in which their subscriptions amount to 60% of the €1.5 billion targeted equity commitments Hines is seeking for HEVF 3. Further closings are expected through 2022, and into early 2023 as required.
HEVF 3 is targeted to be the largest fund in the HEVF series to date, following its predecessor 2018 and 2020 vintage funds in the series.
Read more: Private Equity Wire
