The Indirect Investment team further diversifies Grosvenor's property portfolio through exposure to sectors, countries, investment types and management teams which our direct property investments do not provide.
"Our role is to enable the Group to diversify further its property investment portfolio."
Indirect Investment seeks out specialist third-party management teams to invest with, further diversifying Grosvenor’s property portfolio beyond that of the regional operating businesses and achieving strong risk-adjusted returns for the business.
We provide the Group with exposure to:
Sectors that the Group is not active in, in countries that we have a presence;
Countries that we are not active in, but in a sector that an Operating Company is; or
Investment types that we aren’t directly active in.
Since 2012, we have committed £319m in 17 new investments, with 11 third-party management teams, across four continents.
Find out more about our team, our investment principles and investment criteria at the links below.
Alden Street Capital is a boutique New York-based student accommodation investment and management company.
In September 2016 we formed a joint venture with them to target value-add student accommodation opportunities across the US.
Bridge Investment Group’s ‘Workforce and Affordable Housing Fund’ aims to acquire and preserve affordable housing communities across the United States.
To deliver this strategy, Bridge has secured a strategic funding line with Freddie Mac and is a participant of Freddie Mac’s Green Advantage programme, utilising environmentally-friendly initiatives to reduce tenants’ and operators’ costs.
Grosvenor made a commitment to the Fund in 2018.
Four Ashes Limited is a consortium comprising specialist rail infrastructure business, Kilbride Holdings, Piers Monckton, the principle land owner and Grosvenor. The consortium is proposing the development of a new strategic rail freight interchange project in South Staffordshire.
The Toronto-based GreenSoil Building Innovation Fund (GBIF) contributes to making the built environment more productive, efficient and sustainable, by investing in companies that provide products, services, and technologies that improve the efficiency of the real estate sector.
We first invested in the GBIF in 2016.
Heathley is Australia's third largest manager of healthcare properties. Our joint venture with Heathley was closed in 2018. The vehicle will acquire well-leased and strategically located private medical properties in Australia.
High Street Realty Company is a Boston-based private equity real estate investment management company, which specialises in industrial property.
We first invested with High Street in 2012 and are currently an investor in their fifth fund.
IO Asset Management (IOAM) acquires and manages multi-let industrial estates and small business parks throughout the UK. IOAM looks to reposition each estate in the local market, working with occupiers to provide the business environment required for them to succeed.
We have had a successful partnership with IOAM since 2012. In 2015, we closed a second deal in joint venture with IOAM and Quilvest.
Kefren Capital is a Spanish investment and asset management business that specialises in commercial real estate.
In 2015 we partnered with Kefren Capital and Brunswick Invest to invest in high-yielding Spanish logistics properties.
Propertylink is an Australian industrial and office investment specialist. Since 2014 we have partnered with Propertylink on three separate deals, covering the office and industrial sectors.
RMB Westport’s Real Estate Development Fund II aims to develop a combination of shopping centres, office buildings and industrial assets, targeting primarily Nigeria, Ghana, Angola and the Ivory Coast.
Our investment in the Fund in 2016 was our first investment into sub-Saharan Africa.
Sonae Sierra is an international shopping centre specialist, which operates in Portugal, Spain, Italy, Germany, Greece, Romania, Turkey, Azerbaijan, Morocco, Algeria, Colombia and Brazil.
Since 1996 Grosvenor has had in interest in Sonae Sierra. We currently have a 30% interest in the business.
Stockdale Capital Partners are a Los Angeles-based real estate investment firm. In 2016, we formed a three-way joint venture with them, and with San Diego-based parking operator Ace Parking Management. The partnership acquires, owns and manages high quality parking structures and surface lots across the south-west of the USA.