Date: April 2001
Capital Trust has announced the launch of the Capital Property Ltd Partnership ["CPLP"] which will be a European real estate opportunity fund with the UK as its primary focus (not less than 50%). This fund follows the successful launch by the Group of three private equity funds, the latest of which closed in June this year.
With about US$200 million in the three funds covering three geographic domains (USA, Europe, Middle East & North Africa) the Group now aims to bolster its exposure to Europe with the launch of CPLP. "The leveraged European property fund will be opportunity lead, providing investors with a Portfolio diversifying and asset backed investment and the opportunity of capital growth through active management" says, Esme Lowe, Director of Capital Trust Ltd, London. Capital Trust currently advises in excess of 70,000sqm² (753,480sq) of prime office and retail space in the UK, France & Sweden with a capital value in excess of £175 million.
"Our strategy has historically been to actively manage property assets in order to extract higher income and capital value", explain Nick Judd, Property Fund Manager. He adds "we are interested in opportunities that offer the potential of a substantial upside while minimising the risk to the equity. We are not interested in tracking the market."
CPLP will be officially launched in September with a closing planned for November 2000. Capital Trust Group, which has offices in London, New York and Beirut, will commit a minimum of 10% of the total funds raised. |
