Hermes Property Asset Management has pumped £30.6m into quoted property investment and management company Ashtenne’s industrial fund.
This increases to £420m the potential value of the special purpose investment vehicle, which was set up in June of last year in joint partnership with Morley Fund Management.
Director of commercial property at Hermes, Quentin Burgess said: “This investment reflects our continuing strategy to increase our weighting in the industrial sector.”
Ian Watson, joint chief executive at Ashtenne, added: “The addition of Hermes as an investor in the Fund enables us to continue to take advantage of buying opportunities in the industrial property market.”
EGi News 13/09/02
