Grosvenor and CPP in £200m jv

  Grosvenor Fund Management has teamed up with the Canada Pension Plan Investment Board to investment more than £200m in Central London offices.     The joint venture will see CPP invest £190m, with Grosvenor providing £10m and leading the asset sourcing and management activities.     The jv intend to buy West End and Midtown properties where it believes it can add value.     It is targeting acquisitions of up to £100m.     Wenzel Hoberg, CPP’s managing director and head of real estate investments for Europe, said: “This venture with Grosvenor Fund Management provides us with an entry into an attractive, niche commercial real estate market in West End London.”     Grosvenor Fund Management director Mervyn Howard added: “We have the in-house skills to execute the strategy of the partnership and believe the timing is right. It is a perfect complement to the strategy of the Grosvenor London Office Fund, which currently owns four high-quality, well let prime West End office properties.”     For more on this story, see Saturday’s Estates Gazette.   samantha.mcclary@estatesgazette.com