A new logistics firm is aiming to muscle its way into the crowded ‘big box’ market in western Europe, with exclusive financial backing from Goldman Sachs.
Dubbed Mirastar, the firm has launched as a new specialist pan-European developer, investor and asset manager. It is a joint venture between Ekaterina Avdonina and Anthony Butler, both formerly of asset manager Delin Capital Asset Management (DCAM).
With Goldman Sachs bank providing capital via an exclusive mandate, Mirastar said it would look to invest in both development opportunities, existing assets and also asset management opportunities. Investor and asset manager, M7 Real Estate, is also a partner in the venture and Mirastar is to leverage the firm's €8.1 bn assets under management platform for its own activities.
Before establishing Mirastar, Avdonina co-founded DCAM in 2011 and served as managing director. Butler was previously chief investment officer (CIO) of DCAM, helping to drive investment transactions and establish the third-party fund management business.
Unveiling the new firm, Avdonina, CEO of Mirastar, said: 'The mandate we have been awarded by Goldman Sachs is a strong endorsement at the very outset of our journey with Mirastar.
'We look forward to growing the platform and building a best-in-class specialist in big box logistics assets, utilising the on-the-ground capabilities that our partnership with M7 provides.'
Butler, CIO at Mirastar, said: 'We believe that there remains a significant opportunity in the growth of ecommerce on the Continent, which is behind the UK in its uptake and which is a structural trend that is positively underpinning occupier and investor demand for big box logistics assets.
'With a proven track record in deploying big box strategies and the strong synergies we have with M7’s platform, we are confident that we can deliver value for clients looking to enter or increase their allocation to this sub-sector.'
