Fidelity launches real estate investment vehicle for Saudi’s NCB Capital: Reuters

Fund firm Fidelity International said on Tuesday it had partnered with NCB Capital, the investment arm of Saudi Arabia’s largest bank National Commercial Bank 1180.SE, to launch a real estate vehicle with a total investment of $300 million.

The pan-European vehicle will target assets across Germany, France, Benelux and Britain. It will provide $150 million of equity which can be increased to invest up to $300 million in total.

The mandate is focused on investments of between $20 million and $60 million in the office, logistics and retail sectors and is Shariah compliant, it said in a statement.