Grosvenor invests in GreenSoil Building Innovation Fund

The Group's Indirect Investments team made a US $20m commitment

3rd October 2016

 

The GreenSoil Building Innovation Fund (“GBIF”) today announced a US $20m lead investment by Grosvenor Group, the privately owned international property group (“Grosvenor”).  The commitment has been made by the Group’s Indirect Investment team, whose mandate is to enable Grosvenor to access investment opportunities with third-party managers with specialist expertise that complements those of the Group’s Operating Companies.

GBIF is a Toronto based growth equity fund investing in companies that sell products, services and technologies to improve the efficiency, performance and sustainability of the built environment for the benefit of owners, operators or tenants. It works with its portfolio companies to build shareholder value by expanding sales through providing industry expertise and access to a diverse network of leading real estate customers. 

GBIF has made its first two portfolio investments in companies that enable property owners to manage their assets more sustainably and reduce operating costs and has raised US $55m to date. 

Andy Yates, Investment Director, Grosvenor, comments: “This is a great opportunity to back a highly skilled team in the fast changing property technology environment.  GBIF has exactly the skills and business plan that we’ve been seeking in order to access the broader market opportunity that is being driven by the need to push for greater efficiency in both existing and new building stock.”

Kate Brown, Group Sustainability Director, Grosvenor, added: “Our investment in GBIF not only diversifies our investment portfolio, but gives us visibility and access to leading technology innovators, that will help us to deliver on our commitment to the long term sustainability of the real estate sector.”

“We are delighted to welcome Grosvenor as a lead Limited Partner (“LP”), says Alan Greenberg, co-founder Greensoil Investments and Chairman of GBIF. 

“Grosvenor’s history of leadership and real estate stewardship is exemplary.  Its prestigious reputation and thought leadership on the built environment is a significant asset to GBIF.”

“Grosvenor’s commitment to innovation and sustainability along with its extensive real estate holdings will be a tremendous resource for the GBIF team and portfolio companies,” says Susan McArthur, Managing Director, GBIF. “Partnering with Grosvenor further enhances our investing thesis.”

GBIF will work closely with Grosvenor by sharing its expertise in real estate innovation. 

“The GBIF team has been assessing investment opportunities in real estate innovation companies for the last 24 months. The market for investment is robust and growing and we continue to see great companies and attractive investment opportunities.” says Thomas Espiard, Managing Partner and Manager of the Fund.

ENDS

For more information contact:
Rebecca Dwyer, Press Office
Grosvenor
020 7312 6101
pressoffice@grosvenor.com

Notes to Editors

Grosvenor Group

Grosvenor is a privately-owned property group, active in some of the world’s most dynamic cities. We create high-quality places for people to enjoy and which use resources sustainably.

Grosvenor believes that there is an opportunity for cities to grow in ways that are socially, economically and environmentally resilient in the face of global challenges. Grosvenor’s long-term success in responding to these challenges depends on an imaginative approach to designing individual buildings, our large-scale placemaking activity, and the expertise of our staff. We strive to bring new ideas to the creation of sustainable cities for future generations, while encouraging other city stakeholders to play their part.

We aim to grow our understanding and knowledge of cities and the challenges and opportunities facing them, and by doing so to evolve our ‘Living cities’ philosophy. Our legacy will be the measure of our success as city stewards and creators of long-term value.

Today we have 17 offices in 11 countries and assets in 16 countries. We have regional investment & development businesses in Britain & Ireland, the Americas and Asia Pacific. Our international fund management business operates across all these markets and also Continental Europe. We also have indirect investments, managed centrally. As at 31 December 2014, the Group had total assets under management of £11.4bn. Unusually for a private company, Grosvenor publishes a detailed reporting suite - Annual Review, Financial Statements, Environment Data and index of sustainability reporting under the GRI initiative - available at: www.grosvenor.com


About GreenSoil Building Innovation Fund

The Greensoil Building Innovation Fund (GBIF) invests in growth stage real estate technology companies that provide products, services and technologies which make real estate and infrastructure more productive, efficient and sustainable.  GBIF had its first close in May 2015, has raised over $US 50 million to date and is targeting a US$100m fund.  GBIF’s team has completed its first two investments:  Goby, a commercial cloud platform for monitoring and reporting on building regulatory and sustainability compliance providing actionable analysis to owners and operators (http://www.gobyinc.com); and Amatis, a designer and manufacturer of a platform wireless controls company and Internet-connected devices that maximizes building efficiency and system performance (http://www.amatiscontrols.com)   
For more information please visit http://www.greensoil-investments.com/greensoil-building-innovation/

 

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