The entity that employs most of residential real estate investor Round Hill Capital’s UK workforce has been placed into liquidation as its top team predicts a slowdown in activity in the investment markets.
A spokesman for Round Hill said: “Having in recent years staffed the business for growth, we are now operating in a market that has shifted rapidly, which will [result in] a period of slower activity.
“In response, we have for a number of months been undertaking an operational reorganisation process to ensure that we can optimally service the current platform, including our asset management and development jv partners, across our circa $6bn [£5bn] global portfolio.”
The company added that the liquidation process only affects RHC Europe LLP, describing it as “the legal entity responsible for employing the majority of UK-based staff”. Restructuring firm Begbies Traynor has been appointed to oversee the process.
“It is business as usual across the wider European platform,” the spokesman said. “While we are unable to comment on any redundancy process until it is complete, we expect a significant number of those affected to take up new roles across the wider group.”
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