Grosvenor Fund Management is to be renamed Grosvenor Europe and is expected to become a property company with a focus on predominantly European investments.
Grosvenor Europe will continue to be a fund manager of existing funds and work with existing partners.
It is currently contemplating strategies for the future of the business, including whether or not it will raise new funds or take on new mandates. It is expected to have a bias towards retail investment.
The move is likely to prompt some internal restructuring of the company’s staff, although no formal decisions have been made.
The changes, which will be announced in Grosvenor’s results tomorrow, will come into effect on 1 July 2016.
The existing UK funds run by Grosvenor Fund Management, such as the Liverpool Fund and the London Office Fund, will fulfil their lifespans and continue to be managed by Grosvenor.
From 1 July, however, UK business undertaken by Grosvenor will predominantly be undertaken by Grosvenor Britain and Ireland. Grosvenor Europe will be one of four of Grosvenor’s business divisions, along with Grosvenor Britain and Ireland, Grosvenor Asia and Grosvenor America.
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