The acquisition comes as part of a partnership that aims to boost both firms' global investment capabilities in the real estate sector.

Hong Kong-based real estate investment group Peterson Group has acquired a 20 per cent stake in LJ Partnership, a London-based multi-family office and property investor, for an undisclosed sum.

Peterson Group has committed £200 million ($282 million) to LJ Partnership related projects over the last three years. The two firms previously worked together as co-investors in real estate investment advisor Queensgate Investments, doubling its spending power to £1.5 billion and launching the Queensgate Investments Fund II. That fund completed its purchase of Holiday Inn Kensington in December for £345 million.

Following the acquisition, Peterson Group and LJ Partnership will work together to invest in residential, commercial and hospitality property assets in Europe and Asia.

Peterson Group invests in asset classes including hotel, office, residential and retail investments with interests in Asia, Europe and North America. It also has an alternative investment platform that seeks opportunities in structured lending and private equity.

LJ Partnership, formerly known as LJ Group, serves a group of families, their companies and their charitable foundations. The firm, which was established in 2009, advises on a property portfolio of around £2 billion. 

“Our partnership with Peterson has already led to a number of exciting real estate investment opportunities and their further commitment to LJ Partnership will provide us with additional financial power, as well as access to Peterson’s extensive Asian network,” said Andrew Williams, chief executive of LJ Partnership.