Banca Popolare's Eracle real estate fund has been fully subscribed by Italian and international institutional investors. The fund has raised around EUR 751 mln of equity. Intesa Sanpaolo and Morgan Stanley acted as placement agents. The fund will be managed by Generali Immobiliare Sgr, an Italian asset management firm specialised in property funds.
Banca Popolare's Eracle real estate fund has been fully subscribed by Italian and international institutional investors. The fund has raised around EUR 751 mln of equity. Intesa Sanpaolo and Morgan Stanley acted as placement agents. The fund will be managed by Generali Immobiliare Sgr, an Italian asset management firm specialised in property funds.
The Italian bank has transferred 456 buildings with a market value of EUR 751 mln to the investment vehicle.
