The Warrington-based developer, working with JR Capital, is aiming to raise £100m to invest in multi-let industrial assets in the UK, including in the North West.
The five-year fund will target industrial investments across the country ranging from £5m to £15m, with the first close already raising £25m in equity from JR Capital’s Middle East-based private and institutional client base.
This will give the partners an immediate £50m to deploy into new schemes, including in the North West, where deals are anticipated shortly.
The partnership has already made its first acquisition, a 71,700 sq ft asset in Newcastle-upon-Tyne.
Chancerygate currently oversees around £220m of assets across the UK, totalling nearly 5m sq ft of commercial space over 355 units. Last week, it announced the £3.6m sale of a unit at Eaton Point in Chorley.