UK fund manager InfraRed Capital Partners is partnering with AIRE KölnTurm Beteiligungs to acquire KölnTurm, the highest office scheme in Cologne, according to a notice published on the website of the Federal Cartel Authority. The vendor isTignato Beteiligungsgesellschaft, part of EH Estate Management, a subsidiary of Eurohypo.

Located in Cologne's Media Park area, the 148-metre high scheme was completed in 2001 and offers 32,000 m2 of office space.

InfraRed Capital Partners, a former unit of HSBC Holdings, was created earlier this year from the management buyout of HSBC Specialist Investments, private equity fund management business of HSBC. The company is a specialist infrastructure and real estate fund manager, and is responsible for more than $4bn (EUR 2.9 bn) of equity in funds that invest in real estate and infrastructure assets developed and operated by InfraRed globally. Of the $4bn of AUM, around 50% is invested in real estate and 50% in infrastructure.

In May, the investor bought two logistics facilities in Germany from Redevco Services Deutschland for an undisclosed amount. The properties are earmarked for the company's InfraRed European Active Real Estate Fund.