Property advisor Knight Frank is setting up a fund to invest about $1bn (EUR 762 mln) in offices and shopping centres across Russia's major cities, newspaper Vedomosti has reported. Knight Frank's Rutley Capital Partners will join forces with Duet Private Equity, GVA Sawyer and some other partners to launch the Rutley Russia Property Asset Management fund.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
