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PATRIZIA Multi Manager (PMM) Global III

Type of Transaction: Multi Manager Funds
Strategy: Value add
Geographic Focus: Americas, Asia and Europe
Transaction Volume: €317m in equity commitments
Management Approach:
  • PATRIZIA Multi Manager (PMM) Global III is a global value add fund, which had its final close in 2014 with €317m in total commitments. It is a continuation of PMM II’s strategy.
     
  • PMM Global III 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 60% drawn. Around two thirds of the capital are allocated to mature markets and one third to emerging markets.
     
  • PMM Global III’s loan-to-value ratio is about 40% and it has achieved a significant level of risk diversification.
     
  • Exposure to approximately 250 properties through 14 different top tier partners. 
     
  • Investments in 14 countries through five 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 Global III’s portfolio allocation based on committed equity is as follows:

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