View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
July 27, 2009

ST: £500m distressed UK property fund planned

By Spear's

MIKE HUSSEY is in early talks to set up a £500m investment vehicle to snap up undervalued property in the UK and on the Continent.

MIKE HUSSEY is in early talks to set up a £500m investment vehicle to snap up undervalued property in the UK and on the Continent.

The former Land Securities board director has teamed up with Neil Jones, who used to head the European division of Grosvenor, the Duke of Westminster’s property company, to work on plans for the new fund.

The pair are in preliminary discussions with a range of backers, including wealthy individuals and private-equity firms, to raise £150m – which will be combined with debt to buy stakes, individual buildings and form joint ventures. The new vehicle is expected to launch in the autumn.

Friends of Hussey told The Sunday Times: “They want to set up a fund that is a bit different and make sure they are fully aligned with their investors. It will not be a conventional structure.”

To read the full story, visit timesonline.co.uk

Content from our partners
Why investors should consider investing in nature
HSBC Global Private Banking: Revisiting your wealth plan as uncertainty abounds
Proposed non-dom changes put HNW global mobility in the spotlight

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network