Grosvenor To Launch Four New Property Funds

The property group reported returns down 2.8% in 2009, though that compares favorably to 2008's figures of negative 4.1%, the company said. Returns were down in all markets for the company except Britain and Ireland (1.8% positive gain) and Asia (12.8% positive gain). "Strategic priorities for the future are to invest more in Asia, reinvest in our core London holdings, and work with the growing pool of international capital seeking a home in property via our fund management business," Preston said.

Although Grosvernor's total funds under management were down by $812.6 million to $16.4 billion, Preston said he sees opportunities for new fund launches in all geographic regions. "We have plans to launch a new London office fund, a development fund in the US for the Washington, DC office market, a fourth Japanese fund and a third retail fund in continental Europe," he said.