Hines to launch €1bn open-ended European property fund

Hines is preparing for the launch of a new open-ended core-plus fund focused on key European markets later this year and aims to raise €1 billion in the first 12 months.

Hines European Property Partners (HEPP) will be a diversified fund with assets in the logistics, office, residential, student and senior housing sectors in Europe’s most dynamic urban centres and gateway cities.

HEPP will complement Hines’ existing European funds, the Hines European Core Fund (HECF) and the Hines European Value Fund (HEVF) series. Hines said that HEPP will also sit alongside global funds, Hines US Property Partners and Hines Asia Property Partners (HAPP).

Jorge Duarte, formerly with Barings, has been hired as HEPP’s fund manager. Duarte said: “After spending more than 20 years in portfolio analysis and fund management, the opportunity to work alongside real estate specialists to establish a dynamic new vehicle in Europe drew me to Hines.”

Hines is present in 255 cities in 27 countries and its European platform has offices in 16 cities as well as a presence in 62 cities in 13 countries. Hines oversees investment assets under management are valued at approximately €21.7 billion and the firm provides services for 3.9 million sq m in Europe. The firm has more than 171 developments currently underway around the world.