The UK manager aims to bring all of its real estate equity and debt strategies into Spain and elsewhere in Europe over the next three years.
The emerging manager received a $100m anchor commitment from Texas TRS.
The UK asset manager has acquired a majority stake in BauMont Real Estate Capital to diversify into higher-returning real estate.
The fund, which raised €2.24bn, is also the largest Europe-only real estate fund to close so far this year.
In seeding a first-of-its-kind pan-European student accommodation fund, the manager’s indirect real estate business has shifted its approach to the sector.
During Expo Real in Munich last week, executives tempered hopes of a market recovery citing the influence of geopolitical events on capital flows and investments.
A pan-European, open-end fund and the first of a series of SMAs is in the works, nine months on from the appointment of Nick Preston to lead Panattoni Investment Management.
Despite the brighter outlook for attracting capital to private real estate, key metrics point to ongoing challenges for fund managers.
Through the pan-European vehicle, the logistics giant is expanding its investment capabilities beyond development, says managing director Krzysztof Dudek.
The Atlanta-based manager eyes 'tremendous buying opportunities' in student housing as it looks to launch its second vehicle later this year.