The Grosvenor Group has teamed up with an unnamed Canadian investor to launch a European high street retail platform, which will be managed by Grosvenor Fund Management (GFM).
The Grosvenor Group has teamed up with an unnamed Canadian investor to launch a European high street retail platform, which will be managed by Grosvenor Fund Management (GFM).
The platform, known as Urban Retail V, is Grosvenor’s fifth high street retail investment vehicle and will focus on core cities in the UK, France, Belgium, Sweden, Finland, Denmark, Italy and Spain.
The vehicle will be capitalised by The Grosvenor Group and one of GFM’s existing Canadian investors, giving it initial firepower of around €400 mln.
Commenting on the launch, Giles Wintle, regional director for Europe at Grosvenor Fund Management, said:
'I am delighted to have the opportunity to further develop our core business of investing in and managing town centre real estate.'
GFM currently has €3 bn of assets under management in Europe, including a portfolio of 31 historical buildings in Lyon’s city centre in France and Liverpool ONE in the UK.
