New Activum Fund Heavily Oversubscribed
Jersey, 15 September 2011 — Activum SG Capital Management, the European real estate fund manager, has successfully closed a new €238 million fund targeting distressed real estate assets and ‘special situations’ in Germany.
Activum SG Fund II was more than two times oversubscribed, following a brief international roadshow. The fund is a step-up in size from Activum’s first discretionary real estate fund and has a broad-base of US and European investors, with the majority of capital commitments from instituitonal investors, endowments, foundations, and family offices.
Saul Goldstein, Managing Partner of Activum SG Capital Management, said: “The exceptionally strong investor interest in our second fund reflects confidence in our ability to breathe new life into undervalued buildings and unravel complex situations. Clearly, our focused approach resonates with investors.”
Sarah Sandström, Partner at Atlantic-Pacific Capital in London, said: “Activum SG is shaping up to be the fundraising of the year and underscores the continued institutional investor demand for differentiated, best of breed managers.”
Atlantic-Pacific Capital served as the exclusive global placement agent and Proskauer Rose LLP as legal counsel.
Activum SG Real Estate Fund I recently concluded its final investment. Launched in early 2009, the €56 million pool of capital currently controls more than 920,000 sf of mixed use commercial, retail, and residential buildings across Germany in established locations in Frankfurt, Berlin, Hannover, Cologne and Munich.