The Grosvenor Group has invested $20m (€17.8m) in a North American sustainability fund.

The GreenSoil Building Innovation Fund (GBIF) was backed by Grosvenor’s indirect investment team.

The GBIF invested in companies that sell products, services and technologies to improve the efficiency, performance and sustainability of the built environment.

Kate Brown, sustainability director at Grosvenor, said: “Our investment in the GBIF not only diversifies our 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.”

The GBIF, based in Toronto, typically works with portfolio companies to build shareholder value by expanding sales and providing industry expertise and access to a diverse network of leading real estate customers. 

It has made two portfolio investments in companies that enable property owners to manage their assets more sustainably and reduce operating costs, with $55m raised so far. 

Grosvenor’s indirect investment team recently partnered with US-based Stockdale Capital Partners and Ace Parking Management to invest in the car park sector.