BlackRock Real Assets completes first fund close at $780m

BlackRock Real Assets has completed the first close for BlackRock Europe Property Fund V, with $780m (£632.8m) in commitments. In total, 24 public and private pension plans, sovereign wealth funds, financial institutions, insurance companies, endowments and family offices from North and South America, Europe, the Middle East and Asia Pacific contributed. The funds raised are in excess of 50% of the fund’s total objective. EFV is targeting a total of US $1.4bn in commitments. EFV’s value-added strategy will largely be a continuation of the strategy implemented by its predecessor fund, Europe Property Fund IV. Thomas Mueller, managing director at BlackRock