Savills and China Minsheng launch global property JV

Savills Investment Management has unveiled a joint venture with China Minsheng Investment Capital (CMIC) to develop a series of high-yielding global property funds to sate demand from expectant mainland investors. UK-based Savills IM claimed the venture, called CMISIM and only signed at the start of this week, was the first of its kind between an international property manager and a private Chinese investment company. The head of Savills IM said the firm was compelled to form th…