Perella’s follow-on fund wins €600m

Perella Weinberg has raised €600m for its second pan-European opportunity fund. The US-based manager held a first closing in summer and is to raise further capital to expand Perella Weinberg Real Estate Fund II by early 2013.

The first fund raised €1.2bn  in 2007-2008 and is now fully invested. It recently returned capital to investors after selling 51% of a stake in German retail company Mfi and 50% of the German Ruhr-Park shopping centre to Unibail-Rodamco. Perella’s European chairman Leon Bressler used to be chairman of Unibail.