Yoo Capital makes first closing on second fund
Yoo Capital Investment Management has completed the first closing of its second fund, Yoo Capital Fund II, raising £200m in capital.
The fund will look to invest primarily in central London assets in edge-of-prime and infill locations, where it will create mixed-use, leisure, healthcare and life sciences assets.
It is the first in a series of funds to be launched by Yoo Capital in partnership with Astarte Capital Partners and follows its first fund, which has invested £1.3bn into the redevelopment of the exhibition centre, Olympia London in partnership with investors, including Germany’s Bayerische Versorgungskammer and Versicherungskammer Bayern Group.
Yoo Capital Investment Management has completed the first closing of its second fund, Yoo Capital Fund II, raising £200m in capital.
The fund will look to invest primarily in central London assets in edge-of-prime and infill locations, where it will create mixed-use, leisure, healthcare and life sciences assets.
It is the first in a series of funds to be launched by Yoo Capital in partnership with Astarte Capital Partners and follows its first fund, which has invested £1.3bn into the redevelopment of the exhibition centre, Olympia London in partnership with investors, including Germany’s Bayerische Versorgungskammer and Versicherungskammer Bayern Group.
The new fund, managed by Lloyd Lee, is targeting a total fund size of £400m.
Yoo Capital has engaged Park Hill Group to act as placement agent for the fund after the first close.
John Hitchcox, chairman of Yoo Group, said: “YCFII will enable Yoo Capital to bring further substantial capital to key projects in central London and other major cities. Having invested in more than £2bn of UK assets over the past 10 years, we are committed to creating new opportunities, transformative assets, and providing economic stability in this critical period for the real estate sector.”
Stavros Siokos, managing partner at Astarte Capital, added: “The successful first closing of the fund has received strong support from our global investor base and is a testament to our joint strategy, as well as the resilience of the sector.
“Notwithstanding today’s volatile market conditions, we will leverage our experience to realise the significant opportunities for well-capitalised and talented managers like Yoo Capital.”
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