BNP Paribas Group in Luxembourg News and Press
April 22, 2016 -

“Next Estate Income Fund II” managed by BNP Paribas Real Estate Investment Management Luxembourg backed by new investors from Belgium, France & Spain

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BNP Paribas Real Estate Investment Management Luxembourg has announced a new closing for the “Next Estate Income Fund II” (NEIF II) by Belgian, French and Spanish Insurance companies and pension funds for around €80 million of new commitments.

The final closing of the fund is expected before summer 2016. NEIF II is expected to reach total commitments in excess of €500mn, to be deployed in Grade A properties in the key Eurozone office cities. The fund has recently disclosed several transactions including acquisitions in Dublin and Milan, and a new set of acquisitions is expected before summer.

For Henri ROMNICIANU, Head of Capital Raising for pan-European funds, BNP Paribas Real Estate: “This new closing strengthens the international profile of the Fund with investors coming from Belgium, France, Italy, Luxembourg, Ireland and Spain, and confirms that the strategy of the fund perfectly meets the requirements of pension funds and insurance companies looking for income-driven strategies and allocation to the key European cities”.

NEIF II is a pan-European SICAV-SIF based in Luxembourg. It offers geographic diversification in the office sector of the Eurozone’s main markets to international institutional investors.