Gravis Capital Partners (GCP) has launched a new zero coupon bond fund secured against the Civil Justice Centre in Manchester, Citywire reports. The CJC Zero Coupon Bond Fund is planning to issue 520 class A units in the building, which may garner £130 million at their redemption in July 2042. The single property investment trust is a long-term hold and only in exceptional circumstances will unit holders gain access to their investment before maturity. GCP, which has about £400 million in assets under management, is seeking10% annual returns from the fund.

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