Vengrove & PenSam launch €200m logistics fund for UK & Europe

Investment and asset manager Vengrove has teamed up with Danish pension fund PenSam to create a new investment fund called VRE Evergreen Logistics Partners. 

Vengrove and Pensam logistics

This fund will focus on buying and developing light-industrial and logistics properties in urban areas and transport hubs across the UK, Germany, and France. PenSam is initially investing €200 mln. 
The fund will strategically purchase light industrial and logistics properties. These will be located in major urban centres, along key logistics routes, and near transport hubs within the UK (specifically London & the South East, West Midlands, and Greater Manchester), Germany's ten largest cities, and the French cities of Paris (including Ile-de-France), Lyon, and Marseille.
The goal is to build a stable portfolio of high-quality, environmentally conscious properties, with the flexibility to hold them long-term or sell them and reinvest the profits.
Jeppe Starup, head of Private Capital and Real Assets at PenSam, said: “Our partnership with Vengrove marks a strategic step in our ambition to expand our presence in the European logistics sector. With Vengrove’s proven ability to identify attractive real estate investments combined with their local presence, and vertically integrated approach, we gain a partner capable of creating value and attractive returns for our pension customers.”
Ross Taylor, CEO at Vengrove, added: “We are proud to partner with PenSam on this new chapter of our investment strategy in European logistics. Their confidence in our team is a testament to the strength and quality of our offering, and we look forward to fulfilling the responsibility that comes with this partnership. We are committed to identifying and delivering attractive opportunities that will drive long-term value for PenSam and its clients.”
Greenberg Traurig, LLP, Accura, Mourant, and Altum Group provided advisory services.