Alternative co-investment platform Astarte Capital Partners has launched a £400 mln (€463 mln) closed-end investment fund focusing on acquiring London property assets which can be 'transformed to core', according to the firm.
The fund will consider 'prime infill and edge-of-prime real estate' with redevelopment and refurbishment possibilities, the company said, starting with up to 10 opportunities in the hospitality, entertainment, healthcare and education sectors.
Astarte Special Opportunities Platform (ASOP), the firm’s discretionary co-investment vehicle, is leading the investment in the new platform and providing the model for its structure.
'We strongly believe that this is the right time for institutional capital to be looking at London,' said Teresa Farmaki (pictured), co-founder and partner of Astarte Capital Partners.
'Our new platform will give global investors the opportunity to invest in edge of prime, off-market, real estate in London, one of the most attractive markets in the world,' Farmaki added.
Through ASOP, Astarte invests in real assets by forming partnerships with specialist asset operators, providing seed capital for portfolio acquisition alongside third party investors and supplying working capital for the organisation and operation of the partnerships.
Stavros Siokos, co-founder and managing partner of Astarte Capital Partners said: 'This is the maiden investment of our award-winning ASOP platform which is structured to enable investors to access more than $2 bn (€1.8 bn) worth of value-add opportunities in the real assets space.'