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PATRIZIA Multi Manager (PMM) Global II

Type of Transaction: Multi Manager Funds
Strategy: Value Add
Geographic Focus: Americas, Asia and Europe
Transaction Volume: €200m in equity commitments
Management Approach:
  • 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:

 

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