Pramerica Real Estate Investors is set to enter the
The fund is currently advised by UBS Global Asset Management.
The fund will be renamed the Pramerica UK Ground Lease Fund when Pramerica takes on the role, expected to be on 1 September.
The deal is subject to the satisfaction of
Pramerica Real Estate Investors is the European arm of the real estate investment and advisory business of US-based Prudential Financial.
Charles Crowe, director of UK Real Estate at Pramerica, will be the lead portfolio investment adviser for the fund, working alongside colleagues Paul Dennis-Jones and Andrew Grigson, all of whom joined Pramerica from UBS Global Asset Management in September 2009.
While at UBS, Crowe was the portfolio adviser to the fund.
“At Pramerica, we have a strong interest in developing our business in ground lease funds,” said Crowe.
“In assuming the advisory role for this vehicle, we will be looking to apply our transactional and advisory expertise to generate further strong returns for investors.
“This transfer significantly builds our credentials in this specialist area of the real estate market and we are delighted to take on this successful fund from UBS.”
nathan.cross@estatesgazette.com
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