International legal practice Osborne Clarke has advised Newcore Capital Management, the alternative real estate investment manager, on the final close of Newcore Strategic Situations IV LP, a £150 million value-add fund.
Newcore has secured equity commitments of £84 million from institutional investors as well as its existing family office client base. The fund has so far invested £30 million in its target sectors of social infrastructure, storage and accommodation.
Newcore Strategic Situations IV LP continues the value-add strategy which Newcore has successfully executed since 2012 and follows the completion of the £40 million investment programme for its Newcore Strategic Situations III LP fund. The fund will aim to deliver an annual 14-16% net internal rate of return to investors.
The Osborne Clarke team was led by Tim Simmonds, who was assisted by Rachael Clayden and Nick Dashfield.
Osborne Clarke is a recognised industry leader in real estate and financial services providing a comprehensive lifecycle service to funds and fund investors across all asset classes and strategies.
Newcore was also advised by CBRE Capital Advisors in the fundraising.