Citigroup has raised $530.9 million through its private bank for a U.K. commercial property fund, Reuters reports. The fund, which is managed by Threadneedle, will invest in U.K. commercial real estate.

The capital raising took about three months and the offer was marketed in EMEA as well as Asia. Investors in the new vehicle will be suggested by the managers to scrutinise individual projects, with the option to decline ideas they do not like.

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