In January, investment manager PGIM Real Estate closed its PGIM Real Estate Capital VII fund, one of Europe's largest recent property debt funds, on €1.82 billion. The vehicle is the seventh in PGIM's flagship European high-yield debt fund series. A significant fundraising at any time, it was even more pertinent being achieved as the market continued to emerge from the pandemic, which curtailed face-to-face meetings, a cornerstone of sealing investor commitments.

Andrew Macland, head of European debt at PGIM Real Estate, spoke with Real Estate Capital Europe about what it takes to successfully raise a fund in this market and which strategies are gaining traction with investors.