Savills Investment Management and China Minsheng Investment Capital Co. Ltd, a subsidiary company of China Minsheng Investment Corp., Ltd, China’s first national-level private investment company, have today entered into a joint venture agreement to develop and promote a series of funds and investment vehicles to invest in global real estate markets.
The joint venture is the first of its kind between an international real estate investment manager and a private Chinese investment company.
The first major initiative resulting from the joint venture is a new real estate fund, CMISIM European Investment Fund (The Fund), in which CMIC is the cornerstone investor with seed capital up to £30 million (€41.6 mln). The Fund aims to deliver a net return to investors of 15%.
The majority of the seed capital in The Fund will be invested into Savills Investment Management’s Prime London Residential Development Fund II (PLRDF II) and the remaining amount will be used to invest in other UK projects. The joint venture will expand its investment into other markets in Europe and further afield once capital is raised from other investors from China and internationally.
Source: Savills Investment Management