Schroders Property Investment Management has launched two new funds of funds to enable investors to diversify beyond their national markets. The European Fund 1 will invest in unlisted property funds across Europe, while the Continental European fund 1 will be aimed primarily at UK investors but will exclude real estate in Britain.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
