BNP Paribas REIM has launched of Healthcare Property Fund Europe (HPF Europe), having raised initial equity commitments close to €200 million for the new investment strategy.
According to Paul Darribère, advisor to the HPF Europe fund, “HPF Europe is perfectly positioned to harness the growth of the healthcare market in Europe and will be leveraged on the €650 million healthcare portfolio managed by the BNP Paribas REIM teams.
The fund is backed by pension fund and insurance companies from France, Germany and Italy whilst new investors are expected to enter the vehicle in the third and fourth quarters of 2020.
The fund focuses on healthcare properties across all segments (short, medium & long stay) in the key Eurozone countries and is already analysing opportunities in Spain. HPF Europe expects to reach in the next couple of years a gross asset value in excess of €1bn with a unique exposure to nursing homes, clinics & rehab facilities.
“BNP Paribas REIM is clearly recognized as a trusted partner in the healthcare sector. HPF Europe is another example of our ability to build resilient & focused investment strategies based on mega-trends across Europe. Strong demographics & ageing population are supporting this asset class which is becoming increasingly significant in the allocation of institutional investors”, commented Henri Romnicianu, Head of Institutional Sales.