LJ Partnership, the London-headquartered private wealth and real estate partnership which owns the 100K SF Albert Square Estate in central Manchester, has sold a 40% stake in the business to Dilmun, a New York based family office originally from the Middle East.

LJ will rebrand to Alvarium Investments from 2019.

The group currently supervises in excess of £11B assets on behalf of individuals, family offices, foundations and charities.

The group’s global shareholder base, which now spans the Far East, the Gulf and the Americas, includes Hong Kong-based Peterson Group, who are already known in Manchester as investors in Trilogy’s Great Northern Goods Warehouse redevelopment.

“Macro events continue to drive private capital into real assets," LJ partner and co-Chairman Andrew Williams said. "It is against this backdrop that our real estate co-investment programme is now entering a new phase of global partnership, matching capital from Asia, the Gulf and the Americas.

"We invest in partnership with our clients by selecting assets with strong underlying fundamentals and niche managers with proven track records of delivering private equity returns from property.”