Praxis said the fund was backed by both US and European institutions. : A new £250m (€281.1m) value-add fund set up by Praxis is expected to close its first acquisition in the coming days. IPE Real Assets understands that the UK regional property investor, which had its first close in August, received a “significant portion” of the expected £250m capital raise. Praxis is known as the proprietary investment vehicle for low-key Monaco based property entrepreneur Mark Harrison, but the company has also invested on behalf of a number of private and institutional clients for several years.