UBS Asset Management Real Estate & Private Markets has completed a $135.8m (£99.6m) capital raise on behalf of its core open-ended UK diversified fund.
UBS said that the funds raised had been allocated to a number of key initiatives across the portfolio, including investment into a new life sciences campus development, a last-mile logistics facility in Leeds and a supermarket development.
The fund now has some £1bn of assets under management, said UBS.
Portfolio manager Oliver Abram said: “This new investment crucially enables us to deploy capital into identified growth sectors, diversifying the portfolio and ensuring that it is well positioned to adapt to the challenges within the macro environment, as well as the structural and regulatory changes evident across the real estate market.
“Investing into existing assets to create value is a key element of our strategy, together with a focus on sustainability. We are particularly excited by the fund’s investment into the development of a new life sciences campus which we anticipate will be an important component of the portfolio’s performance going forward.”
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