RIYADH: Bahraini GFH Financial Group’s UK unit, Roebuck Asset Management, has set up a joint venture to acquire logistics assets in Spain for €400 million ($410 million). The 18-month deal was signed with ICG Real Estate for urban logistics, targeting income-generating assets that seek to build funding opportunities, according to a statement. “The JV builds on Roebuck’s well-established track record as a pan European asset manager and its presence in the Spanish market, having established Roebuck Iberia in 2020, following the transaction of €300 million of Spanish logistics and increased investor demand for access to Spain,” said Hugh Macdonald-Brown, managing partner at Roebuck. The move comes in line with the Bahrain-based investment firm’s expansion strategy in a bid to strengthen its footprint in Europe.