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Barings' European property fund to receive €100M capital injection

Barings' open-ended European Core Property Fund is set to receive €100 million in funds from PMT, a €70 billion pension scheme for metalworkers and mechanical engineers in the Netherlands, IPE Real Assets reported.

PMT, which has a €9 billion real estate portfolio, is one of the biggest Dutch pension schemes, and it made the capital injection as part of its European core property allocation, the May 15 report added.

The investor is aiming for net returns of 7% to 9% for the capital it is pumping into the Barings fund, along with a 30% maximum loan-to-value ratio.

The European Core Property Fund holds retail, logistics and office assets in European cities like London, Amsterdam, Berlin, Hamburg, Lille, Malmö and Madrid, according to the report.