Hermes To Float $400M RE Fund

Hermes Real Estate,Hampshire Real EstateandUnited Overseas Bank(UOB) will unveil a closed-end fund commercial real estate fund,金融时报》reports. The fund is expected to raise about $400 million, including debt.

UOB and Hampshire will each invest $25 million in the fund, while Hermes will invest $150 million on behalf of theBritish Telecom Pension Scheme, which it manages. The vehicle will seek to target properties outside major city business districts especially eastern U.S.

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