(Reuters) - Private equity and investment firm Tokoro Capital launched on Thursday a 250 million euros ($294 million) fund to invest in offices in London and Paris, saying the sector remained lucrative despite being hit by the coronavirus crisis.
The COVID-19 pandemic has resulted in many empty offices in cities such as London, Paris and New York as staff worked from home. But the Tokoro executives said the office property market could still pick up.
"We remain steadfast in our conviction that well located, highly amenitised offices offering a carefully curated mix of indoor and outdoor space will continue to be highly sought after, especially as the clear social value of workforce interaction becomes apparent and the cycle of living at work is broken," said Tokoro Capital partner Max Bassadone.