Mitsubishi and UBS launch fund

Japanese auto group Mitsubishi announced yesterday is has partnered up with Swiss bank UBS to launch a real estate debt fund in the UK. The venture will begin with a £140m investment, but aims to broaden its scope to other countries, aiming for a £500m fund. It is not the first time the two corporate giants have worked together, having set up a property investment trust in 2000. Mitsubishi said the UK was chosen for its transparent and liquid property market.