Ardian to start €1bn Euro fund
French private equity firm Ardian is raising money for its first continental European commercial real estate fund with a target of €1bn (£880m). Ardian launched its real estate arm last September with an intention to manage €2bn of property assets in five years.
Valad appoints Macpherson
Valad Europe has appointed Robin Macpherson as head of risk for Europe. Macpherson, the former head of legal at RBS, will be responsible for risk management and legal and compliance issues across the company’s €3.7bn (£3.2bn) real estate portfolio.
Swiss Life buys Mayfair
Swiss Life Asset Managers has completed its acquisition of real estate investment management company Mayfair Capital Investment Management. The deal will add Mayfair’s UK business, which has £1bn in AUM, to Swiss Life’s pan-European portfolio to create £55.3bn in total property assets. James Thornton will stay on as chief executive and Robert Palmer will remain as chief investment officer of Mayfair.
NatWest to fund shed park
NatWest has agreed a £25m structured facility for Frogmore and Mulberry Developments’ joint development of Midlands Logistics Park. The two firms bought 300 acres near Corby, Northamptonshire, which has outline planning permission for a logistics scheme.
UKCPT survives investor vote
Investors in the UK Commercial Property Trust have voted for the continuation of the company. Following more than 90 consecutive days of trading at a 5% discount to NAV, the company moved to vote on the future of the company on 9 November. The motion passed this week. UKCPT is still trading at a 5.3% discount.
