Kildare seeking to raise $2b for second European real estate fund

Kildare Partners has launched Kildare European Partners II and is seeking to raise $2 billion for the fund, according to a meeting webcast from the Texas Permanent Fund.

The pension fund recently approved a commitment of $75 million to the fund. Courtland Partners, the pension fund’s real estate consultant, said 18 of the 19 investors in Kildare European Partners I will be investing in this fund as well.

While Partners I focused primarily on U.K. assets, Partners II will branch out to Germany, the Netherlands, Portugal and Italy, as well as the United Kingdom.

The fund will invest in distressed real estate debt and is expecting to hold a first close of approximately $1.5 billion in mid-May.

Kildare European Partners I held a final close of $2 billion in 2014.