The US IV Fund, which was Invesco’s first US Real Estate Fund, closed on February 18, with a starting capital of $120m. Totally four institutional investors invested in this fund, of which two lead investors were from MEAG Munich ERGO Asset Management (MEAG).
With this investment, Invesco Real Estate has a spending capacity of US$275m. The company is planning a second closing during the second half of 2010, so as to achieve the target volume of US$500m.
US IV Fund is one of the four tactical US Funds that have been floated to invest the European institutional capital into the US Real Estate market. As with the other three funds, US IV Funds will have 100% allocation in US, focusing on the traditional sectors of Real Estate including retail, office and industrial. With a three-year investment phase, the US IV Funds will have a planned lifespan of 10 years.
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