Valor Real Estate Partners launched a long-term investment fund alongside partner American International Group, and is looking to invest in assets worth €300 million with the first tranche of committed capital, according to Property Week.

Valor Industrial Partners 1 comes with the option to add similar-sized tranches in the future and plans to target logistics as well as industrial real estate in the U.K. and European distribution markets. It will undertake the selective development of properties, with an emphasis on infill locations.

Valor's existing U.K. assets will be pooled into the venture and refinanced by Deutsche Pfandbriefbank, the Oct. 10 report noted.