Chelsfield founder Elliott Bernerd will launch Chelsfield Partners this week – a £1bn fund backed by some of the UK’s most well-known property figures.
Bernerd has been drawing up plans for the investment vehicle alongside old sparring partner Sir Stuart Lipton for several months.
Sir Stuart will be appointed deputy chairman of the fund, while Stanhope executives Brian Corbin, Piers Codling and Mark Wenlock will also join in senior roles.
Sir Stuart is currently selling his stake in Stanhope to the company’s chief executive David Camp in a deal that will see Sir Stuart retain interest in Stratford City, the £4bn East London regeneration scheme.
Other backers include businessman Harvinder Hungin, NM Rothschild vice-chairman Michael Sorkin, Sir Bruce McPhail, Robin Broadhurst and Christoper Jonas.
The launch comes as Bernerd this week took a one-third stake in a £400m European property fund set up Insight, the property management arm of HBOS.
References: EGi News 19/12/05
