Aviva Investors has abandoned its plan to raise 拢200m (鈧�227.1m) for a long-income real estate fund to be listed on the London Stock Exchange 鈥渄ue to insufficient demand鈥�.
Last month, Aviva Investors, which manages 拢4bn in long-lease real estate strategies, said it would launch an initial public offering in December for Aviva Investors Secure Income REIT.
Insurer and parent company Aviva was expected to make a direct investment to own 19.99% of shares placed.
Aviva Investors Secure Income REIT said today that it had taken the decision not to proceed with an initial public offering 鈥渄ue to insufficient demand at the current time.鈥�
Renos Booth, head of real estate long income at Aviva Investors, said: 鈥淲e would like to thank all the institutional investors and intermediary retail platforms who took the time to meet with management.
鈥淲e will give consideration to reactivating the proposed initial public offering at a later date.鈥�
Aviva Investors is the largest manager of UK commercial real estate with 拢24bn under management as at 30 September.
