The Grosvenor Group has launched its fifth high street retail investment vehicle.
Urban Retail V will be capitalised by the Grosvenor Group and one of Grosvenor Fund Management’s existing Canadian investors – giving it an initial investment capacity of about €400m.
The new platform will focus on major cities in the UK, France, Belgium, Sweden, Denmark, Italy and Spain.
Giles Wintle, regional director, Grosvenor Fund Management, Europe, said he would look to build up a portfolio that will be “proactively managed” to outperform the market.
“I am delighted to have the opportunity to further develop our core business of investing in and managing town centre real estate,” he said.
Grosvenor Fund Management currently has about €3bn of assets under management in Europe, including Liverpool ONE in the UK and 31 historic buildings in Lyon, France.