Invesco targets €500m with open-ended residential fund

Invesco Real Estate has launched its Invesco Real Estate European Living Fund, an open-ended fund targeting €500 million of residential assets across Europe.

The fund has initial equity commitments of €140 million from three German institutional investors. With debt this provides €190 million spending power. The firm said further closings are scheduled over the next six months and it is initially targeting €500 million gross asset value within three years.

“European residential investments have shown outperformance compared with other asset classes in the long-run, whilst showing less volatility and they have also proven to be especially crisis-resistant with a high degree of income stability,” said Invesco senior director fund management William Ertz (pictured).