London (September 18, 2024) — BGO, a global real estate investment management advisor and provider of real estate services, has today announced that it has successfully raised €2.0 billion for its European investment program through its fourth European Value-Add Strategy. With this announcement, the Value-Add Fund has raised a total of €1.463 billion in commitments and €520 million through co-investment opportunities in high-quality industrial and data centre platforms in Europe. This is the fourth fund in BGO’s European Value-Add strategy, which has invested over c. €4 billion since 2014.
“BGO’s European Value Add series has now successfully navigated multiple cycles over more than a decade, with Fund IV being our largest raise yet and well positioned to take advantage of this current cycle,” said John Carrafiell, co-CEO, BGO. “Building vertically integrated capabilities across multiple countries and having the skills to invest in leading operating companies and platforms, like data center company Bulk Infrastructure and developer and contractor Techbau, has given our European strategy a unique edge.”
“Our European Value Add fund franchise continues to attract strong support from existing and new investors. BGO’s ability to navigate changing market circumstances, manage risks and capture opportunities across the key markets in Europe has contributed to developing strong, long-term relationships with our investors,” said Toby Phelps, Managing Partner, and Head of European Equity at BGO. “Our fourth European Value-Add strategy retains significant dry powder to capitalize on the strong opportunity in European real estate as markets enter a period of greater stability and growth prospects. BGO’s differentiated deal-flow, strong history of co-investments in sectors with long term growth prospects, and our strong fiduciary mindset, will continue to enable the successful growth of our European platform.”
The Value-Add Fund will be largely focused on sectors that are benefitting from structural growth in demand, specifically the living sector, logistics, including cold storage and urban logistics, data centres, as well as those that are experiencing cyclical challenges that are impacting values. The team will seek to apply its local asset management expertise in key European markets to transform under-valued or under-managed assets in well-established locations into high quality investments with high stabilised yield on all-in cost.
“We are pleased with the support received for our European Value Add franchise. The strategy’s relative performance and track record in offering attractive co-investment opportunities in best in class and scalable platforms have resulted in more than 80% of the investors in this new fund being comprised of existing investors who continue to partner with us, as well as a number of new strategic relationships” said Francesco Ostuni, Managing Partner, and European CIO, BGO.
BGO is a leading, global real estate investment management advisor and a globally-recognised provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $83 billion USD of assets under management (as of June 30, 2024) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 27 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.
BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.
For more information, please visit www.bgo.com
Media Contact
Rahim Ladha
Global Head of Communications, BGO
media@bgo.com