- PATRIZIA Multi Manager (PMM) Global II is a global value add fund, which had its final close in 2011 with €200m in total commitments.
- PMM Global II targets a net IRR of approximately 12% to investors by investing in the small- and mid-cap segment alongside local operating partners. The Fund is fully committed and nearly 80% drawn.
- Around two thirds of the capital is allocated to mature markets and one third to emerging markets.
- PMM II’s loan-to-value ratio is about 45% and it has achieved a significant level of risk diversification.
- Exposure to approximately 200 properties through 15 different top tier partners.
- Investments in 17 countries through six US partners, four European partners and five Asian partners.
- Exposure to more than five property sectors, with a main focus on residential and retail.
PMM II’s portfolio allocation based on committed equity is as follows: