Astarte Capital Partners has set up a £400m (€463m) real estate fund to invest in London.
The specialist alternatives co-investment platform said the newly created vehicle will initially have a closed-end structure and invest in 8 to 10 assets with a focus on transforming them into ”institutional-quality future core” assets.
The fund will target hospitality, entertainment, healthcare and education sector assets that have the potential to be “developed and/or re-positioned as core” real estate assets.
Astarte’s discretionary co-investment vehicle, Astarte Special Opportunities Platform (ASOP), is leading the investment in the new platform and providing the model for its structure.
Teresa Farmaki, co-founder and partner of Astarte Capital Partners said: “We strongly believe that this is the right time for institutional capital to be looking at London.
“Our new platform will give global investors the opportunity to invest in edge of prime, off-market, real estate in London, one of the most attractive markets in the world.”
Stavros Siokos, co-founder and managing partner of Astarte Capital Partners said: “This is the maiden investment of our award-winning ASOP platform which is structured to enable investors to access more than $2bn worth of value-add opportunities in the real assets space.”