Irvine Sellar’s Sellar Property Group has formed a $1bn (£0.65bn) joint venture with US fund manager HIG Bayside to invest in UK and European commercial property.
Sellar is understood to be providing real estate expertise, since HIG Bayside does not have any specialisation in the asset class.
The 50:50 joint venture will be seeded with assets raised by HIG Bayside for an opportunistic European property fund.
HIG Bayside has $13bn of assets under management.
sophia.furber@estatesgazette.com
