BlackRock raises £60m
BlackRock has raised an additional £60m of equity for its UK Long Lease Property Fund. The fund raised £250m in a first close in June last year, which has now been fully invested in 20 assets, including the Premier Inn at Gatwick.
?Ares fills London Square
Ares Management has bought out Graphite Capital’s majority stake in residential developer London Square for £110m. UK private equity investor Graphite backed London Square with a £50m equity injection following its launch in April 2010.
?Schroders goes DIY
Schroders has brought the management of its £1.2bn global property securities ?team in-house. The fund manager has hired a new team including Tom Walker and Hugo Machin from AMP Capital to manage the platform.
?L&G finances Rooftop resi
Legal & General has agreed a £40m loan to Rooftop Housing Group to fund the development of up to 900 affordable homes by 2018. The investment manager has provided a 20-year debt facility in the latest of a series of loans to housing providers.
?ICG-Longbow draws Crowley
Real estate debt specialist ?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.
