Content area
Full Text
MGPA Europe employs local knowledge and specialist skills to understand market dynamics and occupier needs, and seeks flexible, efficient and sustainable assets. Laurent Luccioni, MGPAs chief executive, Europe, talks to David Sands
What funds are you presently running?
We have two funds: MGPA Europe Fund II, which is a euro28sm pan-European opportunity vehicle, entering its harvesting phase. Also, MGPA Europe Fund III, an euro84om, pan-European opportunity fund. We are still investing capital in this and we have around euro20om of equity available for new investment.
How have the funds performed?
We round-tripped our first fund, the $53om global fund in 2009, and it returned 14% net internal rate of return with a 1.9X equity multiple - nearly doubling investors' money. It ranked in the upper quartile in its peers in the comparable vintage; it was two-thirds invested in Europe.
Describe your investors.
They are mainly "blue-chip" institutional investors such as public and corporate pension funds, sovereign wealth funds and insurance...