London real estate targeted by fund running Lego wealth

London

THE US$12 billion fund that manages the wealth of the billionaire family behind Lego A/S wants to add more UK real estate to its portfolio, reflecting a bet that Britain's departure from the European Union might make the London property market more accessible.

"We need to keep finding targets for investments and we feel that Brexit can give some opportunities at attractive prices," Soren Thorup Sorensen, the chief executive officer of Kirkbi A/S, said in an interview. "For example, London's property market." The fund has almost US$1 billion in its real estate portfolio.