Grosvenor will double the size of its indirect real estate investment business to £1.5bn in equity over the next five years.
Grosvenor Diversified Property Investments was established in 2012 to invest globally alongside local specialists but the focus of the new investment will be Europe and Asia.
It has partnered on 16 investments to date, delivering an average IRR of over 20% pa.
GDPI chief executive Chris Taite said: “Our ambitious global expansion plans will continue to pursue aligned local partnerships in growth real estate sectors with sustainability goals aligned to our own.
“While our mandate remains globally active, we will apply a particular near-term focus on expanding our partner network in the Asian and European markets.”
Whilst many of its partnerships are through joint ventures with local operating partners, the team also invests in funds to access specialist sector or country expertise.
Current partnerships include US offices with Bridge Investment Group, Australian logistics with Gateway Capital, US healthcare with MedProperties, Polish logistics with REINO IO and student accommodation in Brazil with VBI Real Estate.
Grosvenor chief executive Mark Preston (pictured) said: “Recognising the strength of this model and the success of our team, our expansion plans will broaden our international property footprint, complementing our core direct holdings in the UK and North America.”
To support its growth, GDPI has recently appointed its first independent directors, Morgan Stanley advisor Jonathan Lane as non-executive chairman and former Allianz Real Estate chief executive Olivier Piani as non-executive director.
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