London-based Capital Trust is launching two private equity funds that will invest in European markets. Both are closed-end vehicles.
The European Property Fund is to focus on real estate opportunities, and it is expected that it will be about 50 per cent invested in the UK, with the remaining assets scattered around Western Europe, with a focus on the Scandanavian and French markets. Capital Trust has targeted raising £75 million ($113.7 million) for this fund.
The second vehicle, called Eureka, is a generalist fund with a wide-reaching mandate to unearth private equity opportunities across all sectors and throughout Europe. ‘We have set a ceiling of 25 per cent for investments in high-tech and telecoms companies,’ says George Shweiry, Capital Trust’s head of marketing. He is aiming to raise Eur 100 million ($90.7 million) for the Eureka fund.
Both funds are to be primarily marketed in the Gulf, with Saudi Arabia, Kuwait and the UAE the main targets for subscriptions.