KFIM, the investment management arm of Knight Frank, has successfully completed its first close on a new open end fund, raising more than €387m (£300m).
The vehicle has been designed to provide investors with a low risk and consistent long term income return, targeting well let assets with strong underlying property fundamentals.
Kevin Aitchison, CEO of KFIM, commented: “Launching our first fund is an important step in the on-going development of the KFIM business and, coming so soon after passing £1 billion of assets under management, continues the underlying momentum within the business.
“The equity was provided by pension fund clients of Willis Towers Watson who were looking for innovative secure income investment solutions with attractive fund terms as well as structures which align interests. The success of the launch is testament to a lot of hard work by the KFIM team and we have already identified a good pipeline of potential opportunities; the focus will now be on ensuring that we invest the money as quickly and as efficiently as possible.”
