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Goldman Sachs backs Cain International’s inaugural real estate fund

Helped raise €324 mn for its inaugural European real estate fund

Goldman Sachs’ Vintage Funds has backed up Cain International and helped it to raise €324 million for its inaugural European real estate fund, according to the media. Cain’s European Real Estate Opportunity Fund I (EREO I) had received €70 million from the Vintage funds along with an undisclosed amount of capital from the US-based Security Benefit Life Insurance. Among others, founding partners and members of Cain’s senior management team committed to the fund.

The company stated that it has now deployed about 70 percent of the fund’s capital across many European gateway cities like Dublin, Paris and Madrid. The reminder capital of EREO I is expected to target opportunities in the residential sector in the markets where Cain already has established an investment track record. It will help leverage the firm’s combined experience across the asset class and continue its strategy of partnering with local operators.

Richard Pilkington, a senior managing director and head of European real estate at Cain International, addressed the media and said, “While the last year has undoubtedly had its challenges for both investors and emerging managers, we are fortunate to have partnered with an exceptional and forward-thinking investor base over the past 24 months, building a robust portfolio that spans some of Europe’s most desirable and promising markets.” He further added that the investment would complement Cain’s existing partner and investor base with Goldman Sachs, a globally recognised institution. It is considered a milestone to the team’s diligence and a cornerstone for its future growth.

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