Valor Real Estate Partners and AIG have plans to launch a new investment fund focused on buying and developing logistics and industrial real estate across the United Kingdom and Europe.

Valor Industrial Partners 1 will target key distribution locations close to major transport links.

The initial tranche of committed capital will fund €300 million ($354 million) of assets.

Valor's existing U.K. assets will be transferred into the venture and will simultaneously be refinanced by Deutsche Pfandbriefbank.