Weil advised InfraRed Capital Partners, the global investment manager focused on real estate and infrastructure, on the raising of its latest real estate fund, InfraRed Active Fund III, with total equity commitments of £475m. This exceeded the £400m target and was oversubscribed at final closing, reflecting the attraction of InfraRed’s well-established platform and strong track record in value-add property investment. With the associated leverage envisaged for its strategy, Active Fund III has an investment capacity of around £1bn. This excludes potential equity co-investment opportunities, which InfraRed’s deal flow has successfully generated in the past.

Active Fund III will continue to pursue a similar value-add strategy to its predecessors, focusing on pre-defined investment themes within the shopping centre, industrial and office markets in the UK, Germany and France. Over 20 investors across the globe have invested into Active Fund III, including high-quality institutions and family offices from Europe, the US, Canada, Malaysia, Australia, Qatar and the UAE.

London Private Funds partners Ed Gander and Jonathan Kandel (tax) led the matter, assisted by associates James Sargent, Oliver Prakash-Jenkins and Frazer Money (tax), and trainee associate Emma Faulkner. The closing of Active Fund III follows a number of oversubscribed fundraisings that the London Private Funds Group have worked on recently, including Glennmont Clean Energy Fund Europe II and Graphite Capital Partners VIII, which raised €500m and £500m, respectively.

Laurence Richardson, lead member of InfraRed’s Investor Relations team on the fundraising, commented:

“We are delighted with the service provided by Weil on our latest European added value real estate fundraising. They were able to effectively utilise their global private funds platform to advise us on the complex and broad range of commercial, legal, tax and regulatory issues that come with raising capital from a global, diverse investor base in today’s market. The team, led brilliantly by Ed Gander, Jonathan Kandel and James Sargent, and which was commercial and efficient throughout, played a major role in the success of the fundraising.”