Hines hauls in €1.6 billion for third value add fund, despite tough fundraising climate
Hines overcame a difficult fundraising environment to close its third European value fund above target, with €1.6 bn of equity commitments. The global investment manager’s Paul White, fund manager of Hines European Real Estate Partners III, said ‘it had not been a walk in the park’, but despite challenging economic conditions, a further €620 mln of capital was committed in 2023. ‘I have pitched to about 250 investors, resulting in more reluctant negative outcomes than usual’, he said. ‘Because at...