BLP advises Ribston on the launch of a new £107m UK industrial fund
International law firm Berwin Leighton Paisner (“BLP”) has advised Ribston on the launch of the Ribston UK Industrial Property Unit Trust (the “Fund”). The Fund has launched with £75 million of equity commitments which with proposed gearing will give it a capacity to invest up to £107 million. Equity is being provided by clients of Aviva Investors Real Estate Multi Managers.
Ribston is a newly established co-investing manager specialising in UK industrial real estate and the Fund will look to provide a strong, diversified and resilient income return to unitholders during its seven year life.
Antony Grossman, head of BLP’s investment management team, commented: “We have had the pleasure of working with the Ribston team for many years whilst involved with other funds. We were delighted to be selected by the team to help them launch this new Fund working together with the multi- manager team at Aviva Investors with whom we have had a longstanding working relationship. We look forward to working with them on many more projects in the future.”
The cross-departmental BLP team advising Ribston was led by funds partner Nicola Hopkins. Matthew Baker provided advice on the financial services regulatory aspects and Paul Shaw on tax.