Fiera’s acquisition of Palmer Capital: one year on

The UK investment manager formerly known as Palmer Capital Partners is embarking on its largest-ever real estate fundraise. It is also relaunching its core vehicle one year after selling a majority stake to Canada’s Fiera Capital.   Newly rebranded as Fiera Real Estate, the firm launched Fiera Real Estate Opportunity Fund V in November with a seed investment of more than £30 million ($39.45 million; €35.26 million) from CBRE Global Investment Partners, the indirect private real estate arm of CBRE Global Investors. The vehicle has a target of £250 million. This would make it the largest in the series formerly known as the Palmer Capital Development Funds, which raised between £51.70 million and £225 million, according to PERE data. We see a bigger market opportunity in 2020,” said Alex Price, chief executive of Fiera Real Estate. “I’ve not seen a catalyst for change like Brexit come along in my lifetime, where suddenly you’re going to find supply chains are potentially in the wrong place … We’re going to see in the next 12 to 36 months a huge amount of change going on in the UK in the corporate real estate footprints that we have.