Investcorp has fully invested for its third UK industrial and logistics fund following the manager’s acquisition of a £16m (€18m) asset in Leeds.

Investcorp’s UK Industrial and Logistics Programme (UKIL III) now comprises 1m sqft of industrial and logistics assets across ten single-let industrial properties.

The assets, which are located in St Helens, Livingston, Glasgow, Manchester, Birmingham and Leeds, were purchased across six separate transactions for a combined value in excess of £80m.

Neil Hasson, managing director - head of Investcorp European real estate, said: “We are very pleased to announce the close of our third UK Industrial and Logistics programme.

“Over the past two years, we have successfully executed Investcorp’s strategy to build a portfolio of well-located, income-generating industrial and logistics assets based throughout the UK.”

Hasson said demand for these types of assets is growing at a rapid rate and Investcorp continues to view this as a thriving market with immense growth potential.

“We are continuing to work through an attractive pipeline of new investment opportunities in the UK and continental Europe.

“The continued growth of our European real estate portfolio is key to achieving our mission to serve investors worldwide with a diversified portfolio of attractive alternative investments.”