David Ross and Morgan Stanley team up in fund

David Ross, the entrepreneur who co-founded the Carphone Warehouse, has teamed up with US investment bank Morgan Stanley to establish a property company, The Financial Times reported. Named Kandahar Real Estate, the company already owns £500 mln ( EUR 714 mln) in property contributed by the two partners. Morgan Stanley Real Estate contributed Drake Circus, a shopping center in Plymouth, while Ross added a privately owned portfolio of high-street shops into the new company. The partners may ultimately float the new company on the stock market as a REIT to buy or develop more retail or leisure projects in the UK, the FT said.

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