FINANCE: Investment manager ICG-Longbow has poached Hammerson veteran Kevin Crowley to build up business for its debt funds.
Crowley will join the real estate debt specialist as a partner in September from the FTSE 100 REIT where he was a business development director for 10 years.
At ICG-Longbow he will have responsibility for sourcing and executing investments for its current and future funds.
The firm currently has £1.4bn of discretionary funds under management, of which £500m is available to invest.
Last month it launched a new £400m senior debt platform comprising four discretionary UK separate account mandates that will co-invest in loans.
The club will invest in newly originated senior loans of up to £75m with a maximum 65% LTV supported by a diverse portfolio of regional and London assets.
Longbow also manages its fully invested £104m listed Senior Secure UK Property Debt Investments vehicle, and is investing the £700m UK Real Estate Debt Investment III, which focuses on whole loans and mezzanine debt.
During his tenure at the REIT Crowley worked on direct property investment and joint ventures, which ICG-Longbow’s joint managing partner, Kevin Cooper, said would drive expansion.
He said: “Kevin’s experience of entering into joint ventures will be complementary to ICG-Longbow’s existing partnership approach and will enable ICG-Longbow to further expand the range of capital solutions it provides to the UK commercial property market.”
bridget.oconnell@estatesgazette.com
