Non-listed equity capital raise of the Aquila Capital Southern European Logistics Fund
Aquila Capital
Sole Financial AdviserKempen & Co acted as Sole Financial Adviser to Aquila Capital in the equity capital raise of the Aquila Capital Southern European Logistics Fund
Transaction highlights
- Aquila Capital Southern European Logistics Fund focuses on newbuilt, stable income-generating sustainable and ESG compliant logistics properties in Southern Europe
- The fund has a target investment volume of EUR 1.5 billion
- Institutional investors committed EUR 330 million equity in the fund’s first close
- The fund initially aimed to raise EUR 250 million, yet based on strong demand the first closing volume was upsized to EUR 330 million
- Commitments have been made by a group of international institutional investors, including SCI Primonial Capimmo
- The fund has a pipeline of 9 newbuilt assets located in Italy, Spain and Portugal
- Kempen & Co acted as sole financial adviser on the transaction
Fund description
- Aquila Capital Southern European Logistics S.A. SICAV-RAIF (“ACSEL”) Fund launched with a committed equity volume of EUR 330 million
- The strategy focusses on investments in a diversified portfolio of logistic real estate assets in Southern European countries including Italy, Spain and Portugal
- The open-ended fund has a target investment volume (GAV) of EUR 1.5 billion with a maximum debt ratio (LTV) of 50 percent
- ACSEL expects to deploy the capital of the first closing within 18 months
- ACSEL’s first investment has been approved, a 115,000 sqm logistic site in Azambuja, a strategic and core logistics hub in Lisbon’s metropolitan area
Kempen & Co Real Estate credentials
- Kempen & Co has advised on more than EUR 125 billion real estate transactions across 15 different countries in Europe
- This transaction underpins our leading position in the European logistics real estate sector, following successful transactions including CTP’s EUR 800 million public offer for Deutsche Industrie REIT announced in 2021, SEK 1.08 billion (listed) equity raise for Catena in 2021, EUR 480 million (listed) equity raises for Tritax EuroBox in 2021, the EUR 948 million Initial Public Offering of CTP in 2021, a EUR 200 million (listed) equity raise for WDP in 2021 and the EUR 100 million (non-listed) equity raise for the Gateway Fund of Cairn Real Estate in 2020
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Rights Issue
Directed Share Issue to
Capital Increase & Spin-out
Global Accelerated Bookbuild Offering
to
Selling shareholder
Public takeover of
Non-listed equity capital raise of the Aquila Capital Southern European Logistics Fund
Sale of
Block Trade in Molecular Partners Shares
Real Estate Acquisition Financing
Undisclosed
by
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Initial Public Offering
US Public Offering
Placing
Capital Increase
US Public Offering
Sale to
Portfolio company of
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Mandatory Convertible Bond Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Capital increase
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
on Nasdaq
Initial Public Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Capital increase
Private Placement
US Public Offering
Initial Public Offering
US Public Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
Debt financing
US Public Offering
US Public Offering
Green Revolving Credit Facility
Sale to
Combination with
Accelerated Bookbuild Offering
Sale to
Accelerated Bookbuild Offering
Non-listed equity capital raising
Sale of majority stake to
Secondary Sell-Down in Calliditas Therapeutics
Capital increase
Initial Public Offering
Capital Increase 
European FinTech
IPO
Accelerated Bookbuild Offering
Private Placement of shares in
Bridge financing
Undisclosed
Initial Public Offering
Rights issue
Accelerated Bookbuild Offering
US Public Offering
Accelerated Bookbuild Offering
US Public Offering
Merger with Arya Sciences Acquisition Corp. and subsequent Nasdaq listing
acquisition of
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Private Placement
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Accelerated Bookbuild Offering
Global Accelerated Bookbuild Offering
Accelerated bookbuild offering
Sale of 456 unit landmark residential project in prime location The Hague
acquired by
public offer for
Sale and capital increase
and
Sale of Dutch residential development to
Global Offering
Accelerated Bookbuild Offering
Public takeover of
Sale of
to
Accelerated Bookbuild Offering
Capital increase
Global offering
Rights issue
Initial Public Offering on NASDAQ
Secondary placing of Fagron shares
Rights issue
a subsidiary of
Sale of German DIY portfolio to REDOS acting on behalf of Union Investment
Accelerated bookbuild offering
Accelerated Bookbuild Offering on behalf of selling shareholders in
Three-day bookbuild offering
Rights issue
Acquisition of
Initial Public Offering
Accelerated Bookbuild Offering
Block trade in argenx shares
a subsidiary of
Sale of German retail portfolio to a real estate private equity firm
Sale of Dutch residential portfolio managed by
on behalf of investors to
Sale of
to
Bencis Capital Partners
Increase of stake in
Initial Public Offering
Acquisition of
Acquisition of
Acquisition of
Capital increase
Block trade in ERYTECH shares
Initial public offering
Accelerated bookbuild offering
Initial public offering
Acquisition of
Block trade in Boskalis shares
US public offering
US public offering
Sale to
US public offering
Sale of Rabo Bouwfonds CIF datacenter portfolio
to
Initial public offering
Acquisition of former Delta Lloyd portfolio from
Rights issue
Public offer for
Fundraise
Accelerated bookbuild offering
Public offer by German ADLER Real Estate
for Israeli
Public offer by German Vonovia
Sale of Dynamic Portfolios
Public offer by Spanish Colonial
for Spanish Axiare Real Estate
Accelerated bookbuild offering
Sale of 3 German residential portfolios by
to consortium of buyers
Accelerated bookbuild offering
US public offering
Accelerated bookbuild offering
Secondary offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Acquisition by
of
Acquisition of
by
Private placement
Acquisition by
of
Dutch wealth management activities
Acquisition by
of
from
Accelerated bookbuild offering
Initial public offering on NASDAQ
Share buy-back program
Acquisition by
of
Accelerated bookbuild offering
Secondary placement of 9.4% stake in
Public offer by
for
Public offer by German Vonovia
For Austrian Conwert
Secondary placement of 15% stake in
Formation of Passoã joint venture with
Accelerated bookbuild offering
Rights issue
Sale of 19% stake in
Accelerated bookbuild offering
Acquisition of the North American rights to RUCONEST by
from
Acquisition by
of
from
Strategic study
Secondary placement 30% stake in
Share buy-back program
Direct share placement
Private placement
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Sale of the European veterinary business of
to
Strategic study
Private placement
Placement of treasury shares
Public offer for Deutsche Office
By German Alstria
Public offer for
Initial public offering
Rights issue
Rights issue
Initial public offering
Rights issue
Sale of
to
Residential portfolio sale by Dekor
A company owned by Reggeborgh
Rights issue
Accelerated bookbuild offering
Secondary placement of 35% stake in IOW
Accelerated bookbuild offering
Refinancing
Rights issue
Refinancing
Capital Raise
Initial public offering
Acquisition by
of
Refinancing
Initial Public Offering
Initial public offering
Rights issue
On behalf of
Acquisition of
Rights issue
Acquisition of French shopping centre portfolio by Wereldhave
From French-Dutch Unibail-Rodamco
Refinancing
Acquisition of the cancer immunotherapy program by
from
Initial public offering
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Public offer by French Groupe SMABTP
For French Société de la Tour Eiffel
Acquisition of
by
Secondary listing on Euronext Paris
Initial public offering
Acquisition by
of
Accelerated bookbuild offering
Convertible bond issue
Fairness opinion in the public offer by
Sale of Hercules business to ZEG
Refinancing
Convertible bond issue
Initial public offering
Sale of Dutch supply assets to
Accelerated bookbuild, preference shares issue and refinancing
Acquisition of
by
undisclosed PE firm
from
At-market rights issue
Acquisition by
of
Accelerated bookbuild offering
Private placement by acquisition vehicle for French Carrefour
Secondary offering
Combined offering of primary and secondary shares
Public offer for German listed GSW
by German listed
Initial Public Offering
Equity issue
Refinancing
Sale of majority of shares to
Accelerated bookbuild offering
Initial public offering
Secondary offering
Accelerated bookbuild offering
Public offer by
for
Private placement
Public offer by
for
Rights issue