M&G has raised €578m for a new European property fund, aiming to build off the firm’s £1.3bn UK residential property investment strategy.
The M&G European Living Property fund invests in student, private rented sector and retirement housing, and aims to provide investors with index-linked rental income, house price exposure and geographical diversification. M&G maintains redemption delays on £4.6bn Secured Property fund The fund's UK counterpart has provided about 3,500 rental homes to date. Launching with €578m in capital, funding for the European strategy comes from a €400 million investment from Dutch asset managers MN and a €178m investment from the Prudential With Profits Fund. It has made a €75m maiden inve...
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