Europa pulls in €150m for opportunity fund’s first closing

One of the many pan-European opportunity fund managers on the road raising capital has held a first closing.

Europa Capital has had about €150m of commitments for Europa Fund IV. The Los Angeles County Employees Retirement Association is a cornerstone investor, taking €50m.

Europa’s parent, the Rockefeller Group, is also likely to invest. Europa’s latest acquisition for Fund III, and its second in Germany, is a controlling share in the company that owns Designer Outlets Wolfsburg. The fund will finance the development of a 65,000 sq ft second phase, which has planning consent.