Orion Capital Partners has raised €1.28bn ($1.83bn) for its third real estate fund, which is looking for opportunities to buy property across Europe.

Funds committed to the fund, prior to its closure to new investment this month, have financed the purchase of four assets in France and Spain. Its best-known €235m purchase is the 700,000 sq ft Plenilunio Centre in Madrid, on a yield of 7.5% with the help of vendor finance from Santander.