The London investment market has slowed down significantly in 2019, with investors wanting more clarity about the outcome of Brexit negotiations.
But one investment manager is still bullish enough to want to raise a significant new fund to invest in London real estate. Astarte Capital Partners is launching a £400M fund which would look to turn “edge-of-prime real estate into institutional-quality ‘future core’ assets”, according to a press release.
It will steer clear of the main real estate food groups and invest in hospitality, entertainment, healthcare and education. It will look to team up with specialist operating partners in these sectors and buy eight to 10 assets for the fund.
The company will co-invest in the fund through an existing vehicle it runs, Astarte Special Opportunities Platform, which it said gives it access to up to $2B of capital.
Astarte is relatively unknown in the London real estate world, and the firm specialises in real assets, which include real estate but also natural resource assets and infrastructure. It is run by Stavros Siokos, a former chief executive of hedge fund Sciens Alternative Investments; and Teresa Farmaki, former head of private equity for Signia Wealth.
“We strongly believe that this is the right time for institutional capital to be looking at London,” Farmaki said. “Our new platform will give global investors the opportunity to invest in edge of prime, off-market, real estate in London, one of the most attractive markets in the world.”
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