Avignon Capital partners China state-backed CLSA
Avignon Capital has formed a strategic partnership with CLSA, the international investment group of China’s largest investment bank, CITIC Securities.
This marks the first expansion into Europe for CLSA’s Asia-based real estate investment business – though not the first move of the massive CITIC Group, which is the state-owned investment company of China.
Part of the Chinese conglomerate has backed private residential schemes by Brockton and ABP’s office development at the Royal Albert Docks.
Avignon Capital has formed a strategic partnership with CLSA, the international investment group of China’s largest investment bank, CITIC Securities.
This marks the first expansion into Europe for CLSA’s Asia-based real estate investment business – though not the first move of the massive CITIC Group, which is the state-owned investment company of China.
Part of the Chinese conglomerate has backed private residential schemes by Brockton and ABP’s office development at the Royal Albert Docks.
The partnership will start CLSA’s move into Europe and help direct investment flows of Asian capital seeking European real estate opportunities.
The intention is to create an expanded European real estate investment management platform with Avignon Capital acting as CLSA’s partner for European commercial real estate investment.
Founded in 1986 and headquartered in Hong Kong, CLSA operates from 20 cities across Asia, Australia, Europe and the US.
Avignon Capital is focused on the core European markets of UK, Germany, the Netherlands and Spain, and its clients include private investors, family offices and institutional funds. As of 31 December 2017, it had AUM of €700m (£623.6m), with 104 properties across five countries in its portfolio.
Last year it launched Platinum Property Management, a property management service founded in partnership with McCafferty Asset Management.
CLSA chief executive officer Jonathan Slone said: “Building on our CLSA real estate platform, including the Fudo Capital series of pan-Asia real estate funds, we look forward to partnering with Avignon Capital to provide our institutional clients greater access to high-quality, unique European real estate investment opportunities.”
Avignon Capital managing partner Patrick Flaton said: “The partnership will enable further growth and open new markets for Avignon Capital.”
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