Sanjay Sethi and Max Bassadone, former Brockton Capital executives, have launched Tokoro Capital with a plan to spend €250m on office opportunities in London and Paris.
The business aims to take advantage of pricing dislocation in the wake of the coronavirus pandemic.
Tokoro Capital has raised €100m in its debut fund with backing from a major European institution. With debt it expects to have €250m, targeting assets valued between €20m-100m.
The company also provides seed capital and advisory for social ventures, and has committed to channel 1% of its profits to initiatives to protect the planet.
The partners spent four years at Brockton Capital and have transacted and asset managed over €10bn of real estate.
Sanjay Sethi, co-managing partner at Tokoro Capital, said: “We did not raise a fund anticipating distress, but we wanted to create a vehicle that could benefit from both periods of stability and volatility in the investment cycle.
“This is the first of what we hope will be a series of funds across a number of asset classes.”
Max Bassadone, co-managing partner at Tokoro Capital, added: “We grew up in value add and opportunistic investment environments and thus are active managers at our core and able to generate yield pick-up even in lower risk investments.”
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