KFIM, the investment management arm of Knight Frank, has raised 拢300m (鈧�389m) in a first close for its new open-ended fund.
Pension funds advised by Willis Towers Watson backed the vehicle.
KFIM said the vehicle has a low-risk approach and would seek a long-term income return, targeting well-let assets with strong underlying property fundamentals.
Kevin Aitchison, chief executive at KFIM, said: 鈥淟aunching our first fund is an important step in the ongoing development of the KFIM business.鈥�
The equity was, Aitchison said, provided by pension funds looking for 鈥渋nnovative secure income investment solutions with attractive fund terms, as well as structures that align interests鈥�.
He added: 鈥淲e have already identified a good pipeline of potential opportunities 鈥� the focus will now be on ensuring we invest the money as quickly and efficiently as possible.鈥�
Matthew McDonald was recruited from CBREGI last year as fund manager for the vehicle.
