Hyperion Realty Capital, a vertically integrated real estate investment manager focused primarily on U.S. grocery-anchored retail, has formed a strategic partnership with GCM Grosvenor, a middle-market real estate platform builder and GP stakes investor. The platform will launch with an investment of up to $100 million from GCM Grosvenor, on behalf of its investment funds, into a new closed-end vehicle targeting $200 million of equity. As part of the partnership, GCM Grosvenor will join Hyperion’s board of directors.
The new vehicle — Hyperion Grocery Retail Partners III — will primarily target value-add grocery-anchored shopping centers across the western United States, focusing on middle-market assets that have historically attracted less institutional capital than larger-format retail investments. Hyperion and GCM Grosvenor intend to build a portfolio of such investments in neighborhood, strip and community centers representing up to approximately $1 billion in aggre
