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Hermes invests in new Osprey property fund

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UK – Hermes Property Asset Management and Bank of Scotland Corporate Banking are among the investors in the newly-established Osprey Limited Partnership, a high-yielding, commercial property fund with a target size of £300m (€485m). The fund starts life with an initial investment of £12m but the amount invested by Hermes and Bank of Scotland is unknown.

London-based Osprey is a joint venture property fund set up by Equity Partnerships, the fund management arm of Teesland Group, and property company Vectis Securities.

The two companies have formed Equitis Asset Management to take care of the fund’s active management and acquisition strategy. Osprey will be managed by Rob Corlett, fund management director at Equity Partnerships, and Jon Clarke, a director at Vectis.

Its investment strategy is to acquire UK mainland property portfolios with individual lot sizes between £1m and £6m. The fund has an initial one-year target of £150m, at which point a review will take place to decide whether to proceed towards the fund’s ultimate target of £300m.

Says Corlett: “The significant investments form Hermes and the Bank of Scotland provide an extremely good start to life for this fund. We are currently talking to two other major investors as well as looking to acquire three new portfolios.”

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  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

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