New property fund launched

Savills in first JV with Chinese investment firm

SavillsSavills has signed the first ever deal involving an international property firm and a Chinese investment company.

The joint venture will give Minsheng Investment Capital a foothold in the European market. A new real estate fund, CMISIM European Investment 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 and the remaining amount will be used to invest in other UK projects.

It is intended that the joint venture will invest in other markets in Europe and further afield.

Justin O’Connor, chief executive of Savills Investment Management, described it as a ground-breaking joint venture. “We look forward to generating many highly attractive real estate investment opportunities in the years to come.

“CMIC’s decision to partner with SIM underlines the strength of our reputation as a leading international real estate investment manager.”

Terry Liu, chief executive of China Minsheng Investment Capital, said: “Our joint venture partnership with Savills Investment Management represents an important step in establishing a global real estate investment platform.

“Given the strategic importance of London and its buoyant real estate market, we are pleased that this will be the initial investment focus of our partnership.  Our strategy is to build a globally diversified portfolio and in SIM we have the ideal partner to make this happen.”

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