Sparinvest Property Fund, Sparinvests new global fund of funds, has invested DKK 280 million (£25 million) in the property fund the Mall through a secondary trade. The Mall is co-managed by Morley Fund Management and Capital & Regional Plc, and with circa 9% of the UK institutionally benchmarked shopping centre market it offers a high degree of risk diversification within this segment. With gross assets of around £2.7 billion, the Fund is currently the UKs largest Sector Focused Property Fund.
The Fund presently is invested in 23 centers and expects to expand the portfolio to a total of approximately 30 centers. The shopping centers are all located within UK town & city centers and offer great potential for active management.
The Fund Manager and Asset Manager of the Mall have more than 60 people devoted to the further development and active management of the different centers in the portfolio.
Sparinvest Property Fund expects to invest in two additional property funds before its final closing in June 2006.
Source: Sparinvest Property Investors