Real estate focused Intus Capital has held a final close of $120m for its debut real estate fund.
The firm, which was founded in 2015, has partnered with the European Bank for Reconstruction and Development (EBRD).
The Istanbul-based firm has been backed with $60m each by EBRD and NEF, and will target greenfield developments, residential and student housing across Turkey.
The firm claims Turkey is one of Europe’s largest residential and student housing markets, with more than 60,000 homes sold each year.
Bulent Kozlu, partner at Intus Capital, said, “We are excited to establish this partnership between the EBRD, one of Europe’s most reputable institutional investors, and local sector leader Nef. We see attractive opportunities in Turkey’s residential and student housing and we have a strong pipeline of projects.”
Earlier this year, AltAssets reported that fellow buyout firm, Abraaj Group, had raised $526m to invest in Turkey.
This was then followed by Turkish private equity company, Taxim, taking a 40 per cent stake in Big Chefs, the country’s biggest restaurant chain.
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