Valad Europe has forged a joint venture with South-African listed company Grindrod Financial Services for a new separate account mandate to acquire industrial assets in the UK.
Valad Europe has forged a joint venture with South-African listed company Grindrod Financial Services for a new separate account mandate to acquire industrial assets in the UK.
The joint venture will be seeded with 拢50 mln of equity, put up by a combination of private equity investors, South African institutions, Grindrod Financial Services and Valad Europe. The capital will be used to acquire strategic assets across the UK in lot sizes of between 拢5 mln and 拢10 mln.
The portfolio will have an initial target gross asset value of 拢100 mln (鈧�117 mln).
David Kirkby, Valad Europe's head of funds management, said the 'joint venture further diversifies the company's investor base into the growing South African market'.
'Through our joint venture with Valad Europe, we are looking to provide our investors with the right balance between risk and return and have decided that the UK light industrial sector currently meets this profile,' said David Polkinghorne, managing director of Grindrod Financial Services.
Valad Europe manages 鈧�4.3 bn of assets across Europe with 拢600 mln of investment assets and 拢400 mln of development projects in the UK, comprising 240 properties and 1,400 tenants, managed by local teams in London, Leeds and Edinburgh.
