Former InfraRed directors Dean Harrison and Thomas Mallindine have launched a real estate investment and development firm called Harleyford Capital, with Fiera Real Estate UK on board as a minority shareholder.
Harrison and Mallindine will be joined by a third former InfraRed employee, Zayn Khamisa.
The trio has more than 25 years of combined experience managing discretionary capital at private equity and investment management businesses, where they transacted more than £2bn of pan-European real estate.
During their time at InfraRed, the team were responsible for originating, executing and managing a series of real estate private equity investments with a focus on the logistics, residential and mixed-use sectors. Recent realisations include a pan-European urban logistics platform sale to Blackstone-managed funds for £250m in 2021.
Harleyford will target well-located, ESG-focused and best-in-class assets backed by structural trends, science or technology, also known as new-economy real estate. The team will place particular focus on the logistics sector to begin with, taking advantage of the recent market correction to access oversold income.
The firm is looking to work with a small number of investment partners. It has immediate access to capital through the Fiera Real Estate Logistics Development Fund UK, which FRE UK launched earlier this year.
The fund was launched to exploit opportunities in the logistics development market brought on by demographic shifts, technological progression and changing customer expectations. It completed its first close in June and has £180m available for immediate investment.
Mallindine, who has taken on the role of head of asset management at Harleyford, said: “We believe that our discretionary fund management background and mindset gives us an edge when assessing and delivering investment opportunities, and we are hugely excited about providing a best-in-class service to FRE UK and our other investment partners.”
Harrison, who is head of investment at Harleyford, said: “FRE UK brings immediate access to balance sheet capital and discretionary equity capital for logistics development, alongside a highly respected institutional framework and investment process. This creates the perfect opportunity for Harleyford Capital to hit the ground running at an interesting time in the market cycle.”
Charles Allen, head of UK real estate at FRE UK, said: “The current market, while evolving, will expose numerous opportunities and I know the Harleyford Capital team has extensive experience and the skillset required to maximise on these. The market downturn represents an excellent opportunity to start a new business.”
To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews
