The Grosvenor Group has teamed up with a Canadian investor to launch a European high street retail platform, which will be managed by Grosvenor Fund Management (GFM).
Urban Retail V is Grosvenor’s fifth high street retail investment vehicle and will focus on core cities in UK, France, Belgium, Sweden, Finland, Denmark, Italy and Spain. The vehicle will be capitalised by The Grosvenor Group and one of GFM’s existing Canadian Investors to produce an initial total investment capacity of circa €400m.
Commenting on the launch, Giles Wintle, Regional Director, Grosvenor Fund Management, Europe said:
"I am delighted to have the opportunity to further develop our core business of investing in and managing town centre real estate. This partnership builds on an already fruitful relationship and the whole team looks forward to working with our clients to build a portfolio of high quality retail assets that will be proactively managed to out-perform the market over time. ”
GFM currently has c.€3 billion of assets under management in Europe, including a portfolio of 31 historical buildings in the heart of Lyon’s city centre in France and Liverpool ONE in the UK. GFM’s focus is on adding value for investors through active asset management, with funds outperforming their INREV Index peer benchmarks.
For more information contact:
Naomi Curtis/Sorrel Basher, Press Office
020 7312 6479/6101
Notes to Editors
Grosvenor Fund Management offers a range of sector and region-specific property investment vehicles, with a focus on European urban retail and London offices, which aim to deliver attractive, risk-adjusted returns and a high level of client service. Operating from 12 offices in the USA, Europe and Asia, we employ 102 professionals with local knowledge and skills to execute our strategic investment decisions and create value for our investors. As at 31 December 2013, assets under management were £3.2bn with 66 investor partners in 26 property funds, club deals and separate account mandates.