Kames fund pulls in £50m
The Kames Active Value Property Fund has raised £50m from two UK pension clients in a third close. The balanced vehicle, which targets UK secondary property, has raised £250m since launching in October, and aims to close with £300m at the end of 2014.
Blackstone/TPG buy lender
Investec has sold Kensington Mortgages to private equity firms Blackstone and TPG in a £180m deal. The firms plan to expand the residential and buy-to-let mortgage lender and see it become the UK’s latest challenger bank.
€750m lift for retail fund
Meyer Bergman has raised €750m (£602m) of equity for its second value-add European retail fund following strong demand from international institutional investors. It has already deployed 50% of the equity buying assets in ?Berlin, Copenhagen, London and Paris.
Blackstone eyes US sheds IPO
Blackstone has filed for a US IPO of its American industrial platform. The private equity investor aims to raise around $1bn (£616m) by spinning IndCor off as a REIT. The listing values the platform at about $8bn.
Secure Income NAV up 6%
Nick Leslau’s and Sir Tom Hunter’s Secure Income Real Estate Investment Trust’s EPRA net asset value per share has risen 6% since ?being listed three months ?ago. The group’s NAV is ?now 184.5p a share.
bridget.o’connell@estatesgazette.com
