Private equity real estate fund Queensgate Investments has secured an investment from Peterson Group, a Hong Kong-based real estate group, into a new fund, Queensgate Investments Fund II (QIF II).
QIF II is a pan-European real estate fund that will focus on assets which provide predictable income and multiple value-add opportunities.
QIF II complements and supplements the equity in Queensgate Investments Fund I (QIF I), a pan-European real estate fund which is also exclusively advised by Queensgate.
Queensgate will work with Peterson Group to develop and advise QIF II. Queensgate has secured a first close for QIF II.
Queensgate manages around GBP850 million of assets, including the development by the O2 arena on London’s Greenwich Peninsula of the 452-bed The InterContinental London The O2 Hotel and adjoining conference centre, which will be Europe’s largest, and more than 140 apartments.
Queensgate also controls Executive Offices Group, an office business in central London, which controls and manages around 30 high-quality serviced office buildings in Mayfair, Belgravia, Midtown and the City. Key assets include 33 St James’s Square, SW1, 78-79 Pall Mall, SW1, 53 Davies Street, W1, 2 Eaton Gate, SW1, and 1 Cornhill, EC3.
Jason Kow, chief executive of Queensgate, says: “Partnering with a flexible, nimble and long-term investor, like Peterson, is a strategic move for Queensgate not only in terms of greater equity firepower but also the ability to acquire larger and more exciting opportunities.”