We have advised Kamco Invest, one of the largest asset managers in the Middle East and North Africa (MENA) region, on its first joint venture in Europe.
Kamco Invest will be partnering with a team led by logistics real estate veteran Ian Worboys to form European Green Logistics Space (EGLS), a new investment and development company.
Kamco Invest is a regional non-banking financial powerhouse headquartered in Kuwait with offices in key regional financial markets. With this transaction, the company acquires a significant stake in EGLS as part of its ongoing expansion strategy.
EGLS will deliver modern, sustainable big box and urban logistics facilities through a two-pronged strategy: acquiring existing assets for improvement and retrofitting into modern facilities while also undertaking ground-up developments. Initially focusing on investments in the UK, France, Germany, Czech Republic, and Poland, EGLS plans to expand into Spain, the Netherlands and Italy.
Leveraging its strong presence across the MENA region, esteemed client base, and deep connections within the regional investment community, Kamco Invest will support EGLS in broadening its offerings and expanding its network of investors in the MENA region.
Commenting on the transaction, real estate partner Leona Ahmed said: "The European logistics market is seeing growing demand for efficient supply and we can expect this trend to continue throughout the year. It's been great to work with Kamco Invest and support them with their entry into a new asset class."
Mohammad F. Al Othman, Senior Executive Director of Alternative Investments at Kamco Invest, said: "This initiative emphasises responsible investing and complements our suite of alternative investment offerings, providing clients with access to ESG-focused opportunities in the logistics domain We value Taylor Wessing's support during this transaction and the commercial advice provided by Leona and Lacy throughout the process. Their organised and efficient approach to handling this transaction made this a very straightforward process and we look forward to working with them again in the future."
Our team advising Kamco Invest was led by real estate partner Leona Ahmed and corporate senior associate Lacy Gratton in the real estate group.
Other team members include associate Sam Tee in the corporate team and consultant Peter Jackson in the tax team in the UK and partner Thomas Rechberger and senior associate David Volek in the corporate, M&A and capital markets team in the Czech Republic.
