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PATRIZIA Multi Manager (PMM) Global IV

Business Case - PMM IV
Business Case - PMM IV
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Type of Transaction: Multi Manager Funds
Strategy: Value add
Geographic Focus: Americas, Asia and Europe
Transaction Volume: €505m in equity commitments
Management Approach:

  • PATRIZIA Multi Manager (PMM) Global IV is a global value add fund, which had its final close in mid-2016 with €505m in total commitments. This Fund is a continuation of PMM Global II and PMM Global III’s strategy.
     
  • PMM Global IV targets a net IRR of 11%+ to investors by investing in the small- and mid-cap segment alongside local operating partners. The Fund is expected to maintain a prudent leverage of approximately 50% loan-to-value.
     
  • PMM Global IV will mainly invest in existing properties with significant potential for NOI growth through hands-on repositioning techniques. It will also do developments in markets with significant growth and undersupply of up-to-date buildings. Nearly two thirds of the capital is expected to be allocated to mature markets and one third to emerging markets. 
     
  • The Fund is currently sourcing opportunities for investment. 
     
  • As of Jan 2018, PMM Global IV is about 80% committed through 17 distinct strategies in the Americas, Europe and Asia.

When the investment program is finalised, PMM Global IV’s portfolio is expected to have the following exposure:

 

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