July 3, 2019HENDERSON PARK CLOSES DEBUT REAL ESTATE FUND WITH $3 BILLION OF EQUITY INCLUDING $750 MILLION OF CO-INVESTMENT CAPITAL
- Over $5.4 billion already committed across Europe -
London, 3 July 2019 – Henderson Park, (the ‘Company’), the pan-European private equity real estate platform, announces that it has closed its first fund, Henderson Park Real Estate Fund I (‘HPREF I’ or ‘The Fund’), having raised $2.2 billion, exceeding its original target of $950 million. The Company has also secured an additional $750 million of co-investment capital which has been deployed alongside the Fund in building a $5.4 billion pan European portfolio.
The capital commitments were raised from a wide range of pension funds, insurance companies, sovereign wealth funds, endowments, family offices and high net worth individuals from across the globe. HPREF I was seeded with a $500 million cornerstone commitment from Stone Point Capital, Kuwait Investment Authority and Wafra Investment Advisory Group.
HPREF I aims to make equity commitments of between $50 million and $150 million per deal into value-add and opportunistic real estate investments across Europe, primarily targeting highly-liquid gateway and capital cities in the UK, Germany, France, Spain and Ireland. It seeks high-quality assets in prime locations, where Henderson Park’s team can see potential to unlock or create value through asset management initiatives or by taking on and working through complex situations.
The Fund has a diversified investment strategy that can access transactions both directly, into real estate assets and portfolios, or indirectly, through corporate acquisitions. HPREF I can invest in all asset classes but focuses primarily on hotels, offices, industrial and student housing, as well as multifamily.
The Fund portfolio currently comprises 19 investments including the iconic Le Meridien Etoile and Westin Paris-Vendôme hotels in Paris; two of the UK’s largest hotels, the Hilton Metropoles in London and Birmingham; the Los Cubos office building in Madrid; Athene Place and Woolworth House offices in London, and the Grand Hyatt hotel in Athens. The Fund is also invested in two student housing development schemes in the UK (Lancaster) and Spain (Barcelona).
On behalf of the Fund Henderson Park has already built a significant portfolio of over 2,000 build-to-rent units in London which includes developments such as the recently announced acquisition at the former Royal Mail depot in Battersea Nine Elms, as well as in Walthamstow and Croydon, where it will deliver the world’s tallest modular tower. In addition, HPREF I also owns an operating portfolio of PRS apartments in Aldgate, Fulham and Battersea Nine Elms.
Nick Weber, Founding Partner of Henderson Park, said: “To have attracted such strong support for our debut fund from such a wide ranging and international pool of investors is a huge endorsement of the team we have built at Henderson Park, the deals we have already undertaken and the strategy we have set out.
“Over the past two years we have been very targeted in our approach to investments. We have leveraged our team’s track record and network of operating partner relationships to build a significant portfolio of high-quality assets where we have identified the opportunity to create value.
“I would like to take this opportunity to thank all our investors for their commitment to our first fund. We are honoured and humbled by the levels of support we have received, and now look forward to delivering on our strategy.”
Richard Sunderland / Ellie Sweeney: +44 (0)20 3727 1489
NOTES TO EDITORS:
About Henderson Park
Henderson Park is a pan-European private equity real estate manager based in London. It has invested over $5.4 billion in building a portfolio of real estate assets across Europe, primarily targeting Europe’s gateway and capital cities. It seeks high-quality assets in prime locations where it can identify potential to unlock or create value through asset management, or by taking on and working through complex situations. Henderson Park strives to work with and create long-term strategic relationships with best in class local operating partners. Henderson Park is led by Nick Weber, its Founding Partner and CEO.
The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.