GCM Grosvenor partners with Hyperion Realty Capital on grocery-anchored retail fund with up to $100 million investment
GCMG•GCM Grosvenor formed a strategic partnership with Hyperion Realty Capital, including an investment of up to $100 million in a fund targeting $200 million in equity. The platform aims to build a portfolio with about $1 billion in property value.
1. Fund partnership
GCM Grosvenor and Hyperion Realty Capital formed a partnership to scale a U.S. grocery-anchored retail investment platform. GCM Grosvenor plans to invest up to $100 million in Hyperion Grocery Retail Partners III, a closed-end fund targeting $200 million in equity.
2. Investment strategy
The fund targets value-add grocery-anchored shopping centers in the Western U.S., focusing on middle-market neighborhood, strip and community centers. The partnership aims to build a portfolio with up to about $1 billion in aggregate property value as additional investors join the fund, and GCM Grosvenor will take a board seat at Hyperion.
