Invesco Real Estate has increased its investment in Logistics Capital Partners, as the latter seeks not only to build its portfolio of logistics centres across Europe, but also grow its asset management management services to just under €1bn by the end of 2019.
Since late 2018, LCP has been winning development projects, buying land and hiring across Belgium, France, Italy and the Netherlands. The additional investment from Invesco RE is intended to increase the growth rate of LCP in key logistics markets in Europe.
Bert Crouch, managing director, Portfolio Management at Invesco, said: "Following the impressive successes that LCP has achieved since beginning our partnership in late 2018, including winning new projects from key international occupiers, the opportunity to increase our investment is the right business decision for us. Their niche approach within this fast-growing market fits well with our strategic approach and we continue to be impressed with the growth of their business overall in terms of AuM, pipeline access as well as their growing team of high calibre experts. This investment ultimately increases the opportunity for long-term, secure income and attractive total returns for our underlying clients to whom we have a fiduciary responsibility."
Invesco RE has assets under management of some $80.3bn. In the Europe region it has eight offices in London, Munich, Milan, Madrid, Paris, Prague, Luxembourg and Warsaw, and around 163 employees. It manages 159 assets across 13 European countries and with assets under management of $12.6bn.