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Tritax Big Box manager plans European logistics trust IPO

Tritax revealed plans to launch a new U.K. investment trust dubbed Tritax EuroBox PLC through an IPO on the London Stock Exchange.

The trust will invest in the Continental European logistics market.

Tritax is the investment manager of Tritax Big Box REIT PLC, which is the only listed vehicle focused on investments in very large logistics warehouse assets in the U.K.

The manager said it is in advanced talks for potential investments worth more than €600 million out of a total pipeline of €1.8 billion of standing assets and pre-let forward funded developments.

Tritax will externally manage the new trust, which will have a separate core fund management team and board of independent nonexecutive directors from Tritax Big Box REIT.

Jefferies International Ltd. and Kempen & Co NV will jointly serve as financial advisers and book runners for the offering.