Swiss Life Asset Management, part of the Swiss Life group, has purchased London-based property investment firm Mayfair Capital Investment Management for an undisclosed sum, as part of a pan-European push.
Mayfair Capital offers a number of specialist property vehicles, including Residential and Property Growth funds, and Property Income trust for charities. Moreover, it serves as adviser on institutional property funds offered by Schroder Property and Jupiter Asset Management. In total, the firm manages assets of around £1 billion (€1.11 billion).
As a result of the purchase, Swiss Life will provide co-investment and long-term capital to the firm’s fund range, and invest in new funds launched by Mayfair Capital.
The news follows similar purchases in France and Germany in recent years. Now, Switzerland’s largest life insurer boasts a pan-European real estate investment business, with assets of 69.7 billion Swiss francs (€63.6 billion) under administration and management in total.
James Thornton, chief executive of Mayfair Capital, said the purchase provided clients access to a wider range of investment solutions across major European markets, and an investment platform with significantly enhanced distribution reach.
The acquisition is subject to regulatory approval in both Switzerland and the UK, and is expected to complete in the final quarter of this year.
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