The former chief executive of Delin Capital Asset Management is launching a pan-European logistics real estate partnership with the founder of KTR Capital Partners.

Christian Jamison, along with KTR founder Jeffrey Kelter, is creating Valor Real Estate Partners.

The company will initially invest its own capital, with the option of introducing third-party investors at a later date.

Based in London, Valor will invest in select markets across Europe, with a focus on Western Europe and the UK.

Valor will focus on investment in modern logistics properties, as well as last-mile infill distribution properties.

Jamison, who will become managing partner of Valor, said anticipated ownership changes among large pan-European players provided a “compelling environment to generate attractive risk-adjusted returns”.

He said growth in e-commerce had also made the sector more attractive.

Jamison established Delin Capital in 2012 and was chief executive until earlier this year.

Prologis and Norway’s sovereign wealth fund paid $5.9bn (€5.5bn) for a KTR portfolio last year

The deal was part of an existing joint venture between Prologis and Norges Bank Investment Management, manager of the NOK6.94trn (€824bn) Government Pension Fund Global, to invest in US logistics property.