Hines closes Polish/Russia fund

 Hines has closed its most recent property investment vehicle focusing on Poland and Russia, a 900m Luxembourg-based fund that’s been collected 390m in capital. The money’s come from a range of financial institutions, sovereign wealth funds, pensions, trust and other investors from around the world. The fund will take advantage of Hines’ local teams. Its Polish office  led by Mietek Godzisz, while Lee Timmins leads the Russian operation. Around 20 percent of the acquisitions are planned to be made in Poland, with the rest to take place in Russia. Equity has already been placed in three Russian assets.

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