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Clearbell closes UK-focused fund with £310M in commitments

U.K. real estate fund manager Clearbell Capital LLP raised £310 million at the final close of its third value-add fund, Clearbell Property Partners III.

Fourteen investors from the U.S., Australia, Europe, Middle East and South America provided capital commitments to the fund, with 83% of equity pooled in by Clearbell's existing investors and 17% by new investors, which include pension funds, not-for-profit organizations and high net worths.

The fund has already committed £111 million of capital to four U.K. investments across office, logistics and leisure sectors. It acquired the Cara portfolio of 20 industrial and logistics assets for about £100 million through four different deals, and acquired The Sloane Club in Chelsea. It also bought the Taurus logistics portfolio in two separate deals and the Edmund House office and retail property in Birmingham.