European fund manager Amundi Real Estate has made its debut investment in the UK, buying a stake in 5 Canada Square in Canary Wharf.

The company, part of Amundi Asset Management which has €658.6bn of assets under management worldwide, is understood to have acquired a stake of just under 5% in the Evans Randall owned property.

The property totals 536,000 sq ft and is let to Credit Suiise on a lease expiring in 2027.

It was bought by Evans Randall in 2007, the height of the market, for £452m. A 5% stake at the 2007 price would equate to a £22.6m investment, though it is likely the value has fallen with the market.

Nicolas Simon, chief executive of Amundi Real Estate, said: “This acquisition, with well-known local partners, represents a major milestone for Amundi Real Estate. As our first investment in the UK market, it demonstrates our objective and capacity to invest in “neighbouring” markets with high potential.”