- 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. PMM Global II is fully committed and approximately 80% drawn. Approximately two thirds of the capital are allocated to mature markets and one third to emerging markets. PMM II’s loan-to-value ratio is approximately 45% and it has achieved a significant level of risk diversification.
- Exposure to approximately 300 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: