Healey & Baker Investment Managers is seeking to invest up to £350m in UK property for eight of its clients.
Clients of Cushman & Wakefield Healey & Baker’s fund management arm include Wellcome Trust, the Duchy of Lancaster, Trinity Hall Cambridge, Guy’s & St Thomas’ Charity and the West Midlands Metropolitan Authorities and Tesco pension funds. In 2004, HBIM bought and sold £272m of property.
The clients’ requirements range in size from £2m to £100m and include mixed or specialist portfolios of £15m to £100m, multilet high street properties of up to £50m in major towns, central London offices with vacancies and/or short leases, and multilet industrial estates throughout the UK.
HBIM is headed by William MacLeod, who joined in 2003 from ING REIM. MacLeod told EG that the firm was gearing up for a period of growth.
“HBIM has seen assets under management grow by 250% over the past five years to £1.6bn. But we have targeted a further £2bn of new assets under management in the next five years,” he said.
MacLeod said the firm had built up £100m invested in indirect property “from a standing start last year”. It is now considering a fund of funds.
In June 2004, HBIM allied itself with European investment manager Fountain Capital Partners, formed by former JLL European investment bosses Robert Campbell, Erik Sondén and David Rendall. HBIM intends to create a pan-European business by the end of the year.
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HBIM has recently boosted its team with five new appointments. Charles Merry from Raglan is heading acquisitions; Paul Wharton from Watson Wyatt is in charge of fund analysis; investment manager Ceri Walker joined from Pricoa. Two senior surveyors, James Walton, from his own consultancy, and Ed Ginn, from CBRE, complete the team. |
