The JV will buy a portfolio of four retail parks for £60.5m from Zurich Assurance. : NewRiver REIT has formed a new partnership with a fund managed by Pacific Investment Management to acquire and manage a portfolio of UK retail parks. The London-listed property investor said it has agreed the 50:50 joint venture, in principle, with BRAVO Strategies III, re-establishing a partnership that dates back to 2012. NewRiver also said it has also exchanged contracts to buy a portfolio of four retail parks for £60.5m (€68.7m) from Zurich Assurance.