Grosvenor invests in GreenSoil Building Innovation Fund
The GreenSoil Building Innovation Fund (“GBIF”) announced an investment on October 3rd, of US $20M from Grosvenor Group, the privately owned international property group (“Grosvenor”). The commitment has been made by the Group’s Indirect Investment team, whose mandate is to enable Grosvenor to access investment opportunities with third-party managers with specialist expertise that complements those of the Group’s Operating Companies.
Andy Yates, Investment Director, Grosvenor, comments: “This is a great opportunity to back a highly skilled team in the fast changing property technology environment. GBIF has exactly the skills and business plan that we’ve been seeking in order to access the broader market opportunity that is being driven by the need to push for greater efficiency in both existing and new building stock.”
Kate Brown, Group Sustainability Director, Grosvenor, added: “Our investment in GBIF not only diversifies our investment portfolio, but gives us visibility and access to leading technology innovators, that will help us to deliver on our commitment to the long term sustainability of the real estate sector.”
“We are delighted to welcome Grosvenor as a lead Limited Partner (“LP”), says Alan Greenberg, co-founder Greensoil Investments and Chairman of GBIF.
“Grosvenor’s history of leadership and real estate stewardship is exemplary. Its prestigious reputation and thought leadership on the built environment is a significant asset to GBIF.”
“Grosvenor’s commitment to innovation and sustainability along with its extensive real estate holdings will be a tremendous resource for the GBIF team and portfolio companies,” says Susan McArthur, Managing Director, GBIF. “Partnering with Grosvenor further enhances our investing thesis.”
GBIF will work closely with Grosvenor by sharing its expertise in real estate innovation.
“The GBIF team has been assessing investment opportunities in real estate innovation companies for the last 24 months. The market for investment is robust and growing and we continue to see great companies and attractive investment opportunities.” says Thomas Espiard, Managing Partner and Manager of the Fund.