In 2014, an existing investor in our value-add fund approached us to build a diversified UK real estate portfolio with consistent distributions and a target to outperform the MSCI benchmark by 100bps.

From 2014 to 2022, the fund strategically invested in 13 assets, with a focus on industrial and retail warehousing, while maintaining an underweighted exposure to the high-street retail and office sectors. The fund adhered to specific guidelines that prevented investments in alternative sectors such as residential.

The client investment manager requested an orderly return of capital in 2020, following which the fund had delivered annual outperformance of its benchmark by 310 bps (net of fees).