Sparinvest Property Investor has closed its global fund-of-funds (FoF) Sparinvest Property Fund II at €200 million, Europe Real Estate reports. The funding came from Danish institutional investors, including PKA, PenSam and Laerernes Pension.

The firm aims to form a global portfolio of funds with an overall target return of 10 percent to 13 percent net. The product focuses on specialized mid-size managers in areas, such as multifamily properties in California, office properties in New York, hotels in Germany and shopping centers in China.

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