Crossbay Achieves €660m Final Close for Crossbay II Fund
Funding | Dec 02, 2024 | This Is Mark Capital Management (prev. Meyer Bergman Limited)
MARK Capital Management has closed its Crossbay II urban logistics fund with €660 million in equity commitments, marking a 20% increase from its predecessor. The fund, which includes diverse investors from Europe, Asia, and the US, is poised to channel investments into single-user distribution centers in major European gateway cities. With a total investment capacity exceeding €1.5 billion, Crossbay II aims to capitalize on supply-demand imbalances in urban logistics. The fund stands over 60% committed and manages assets around €1 billion with a strong focus on existing key European markets. The CEO, Marco Riva, highlights the strategic aggregation of granular assets, while Chairman Marcus Meijer underlines a pivot from diversified approaches to sector-specific strategies, aiding growth opportunities amid uncertain macroeconomic conditions.
Sectors
- Private Equity
- Real Estate
- Logistics
Geography
- Europe – Crossbay II fund targets urban logistics investments in major European gateway cities.
- Asia – The fund includes new investors from Asia, highlighting its global investment reach.
- United States – New investors from the US have committed to the fund, emphasizing its international investor base.
Industry
- Private Equity – MARK Capital Management, a private equity firm, has secured significant commitments for a specialized urban logistics fund.
- Real Estate – Crossbay II fund focuses on investments in urban logistics and distribution centers across European cities, catering to the real estate sector.
- Logistics – The fund is dedicated to enhancing urban logistics by investing in distribution centers, addressing critical supply-demand imbalances.
Financials
- €660m – The amount raised in equity commitments for the Crossbay II fund.
- €1.5bn – The total investment capacity of Crossbay II, including debt financing.
- €550m – The equity commitments secured by Crossbay I, the predecessor fund.
- c.€1bn – The current asset management size of Crossbay II including its pipeline.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MARK Capital Management | Private Equity Firm | Company | A private equity firm managing the Crossbay II urban logistics fund. |
| Crossbay | Investment Manager | Company | The entity managing the investments of the Crossbay II fund in urban logistics. |
| Marco Riva | CEO | Person | CEO of Crossbay, overseeing the fund's strategic investment and management. |
| Marcus Meijer | CEO & Chairman | Person | CEO of MARK Capital Management and Chairman of Crossbay, steering strategic direction. |