Orchard Street Investment Management and GIC have launched their third UK commercial property fund.
The 10-year Special Situations fund will have an initial £150m investment capacity at 50% gearing.
Philip Gadsden, managing partner at Orchard Street, said: “For an investor of the scale and reputation of GIC to have selected a third time to launch a fund is a strong endorsement of our working relationship. We are confident the fund will attract high-quality assets with stable income streams.”
The two companies previously worked together on commercial property funds in 2008 and 2012.
• From 2012: Orchard Street and GIC form £200m fund
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