ASG continues geographic expansion with record speed for Iberia Fund I
30th September 2015
European real estate fund manager, ActivumSG Capital Management Ltd., has closed its first Spain focused fund at €200 million.
Jersey (UK), September 30th, 2015 – ASG’s Iberia Fund I. capitalizes on ASG’s ability to find and improve under-performing real estate related assets throughout Europe. This fourth fund was significantly over-subscribed in less than six months due to overwhelming demand from existing institutional investors who quickly supported ASG’s expansion to the Spanish market.
Saul Goldstein, ASG Managing Partner, explains: “Our German portfolio is generating strong results in residential development, office repositioning, and an increasing capability in complex corporate real estate private equity. With a strong local presence in Spain, this capital raise perfectly coincides with our ability to execute quick transactions and do business in Spain across a broad spectrum of real estate investments. We are thankful to have ongoing support from our investors during the past 7 years.”
The ASG Iberia Fund concentrates on value add and opportunistic investments throughout Spain and will invest fairly quickly in a small number of high quality transactions. ASG has already developed a reputation as a strong local fund manager in Germany and has invested 75% of ASG’s Fund III which includes several investments in Spain. With a strong Madrid based team ASG raised capital to invest in high quality situations.
Similar to ASG’s first three funds, the Iberia fund will concentrate on asset management intensive investments with its team of country based real estate experts. Shortly after closing in July, ASG completed two significant acquisitions. Brian Betel, Head of Spain, commented on the closing of the Iberia Fund I: “Our goal for ASG Spain is to replicate the success of the first three funds by being the go-to partner for sellers with complicated situations who want transaction certainty and serious execution.”
ASG’s most recent investments in Germany include transforming an office building (Saonehaus – Frankfurt) into micro apartments and another investment to revive a shopping center (Walzmuehle – Ludwigshafen).