Private equity house Palmer Capital Partners and developer Frontier Estates are launching a £200m five-year joint venture with Chubb Common Investment fund.
The fund, called Frontier Key Fund, will develop throughout London and the South East, concentrating on commercial sites between £1m and £10m.
The group hopes to acquire five to 10 sites a year.
Adam Eldred, one of the founders of Frontier Estates, said: “The launch puts us in an excellent prefunded position in market conditions where many funds are inactive.”
Chubb manages more than £800m for a defined-benefit pension arrangement.
