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The new equity brings the total raised for TEP VI to €428.5 mln and significantly exceeds the €400 mln fundraising target. Rockspring said fundraising will continue until early July, when TEP VI will hold its final close.
 
The fund is currently made up of nine investors from the UK, Europe, the US and Asia.
 
TEP VI - the largest in the Rockspring TransEuropean series of funds to date - has already deployed  €226 mln across five assets in the UK, France, Portugal and Switzerland, with a further €177 mln committed.
 
The vehicle has a high income, capital intensive strategy focused on acquiring value-add opportunities across the office, retail, industrial and residential sectors in both Continental Europe and the UK. The fund has a maximum gearing of 55%, with a potential gross investment capability of close to €1 bn.
 
TEP VI follows TEP V, which closed in 2012 with over €350 mln of commitments from 12 investors, and its portfolio has since delivered a return of 23% per annum.
 
‘The high level of equity commitments into TEP VI to date is testament to our fundraising capabilities, and ability to source value in competitive markets and the successful performance of our previous TransEuropean funds,’ said Paul Hampton, Rockspring partner and fund director of the TransEuropean series. ‘As we look towards bringing the equity raising programme to a close, we continue to see a strong investment pipeline of value-add opportunities in the market.’