Invesco Real Estate (IRE) and Doughty Hanson & Co announced that terms have been agreed with IRE to take over the asset management of assets within Doughty Hanson’s value-add funds. This includes €533m worth of value-add assets in Spain, Italy and the UK.
In addition, the eight-person strong value-add team will now join IRE thus adding further strength to IRE’s platforms in London and Madrid, while expanding IRE’s existing platform into Milan, thus creating IRE’s 8th European office.
Andy Rofe, Managing Director of Invesco Real Estate, comments: “I am delighted that IRE is Doughty Hanson’s choice of partner to take over what is regarded as a successful value-add business with a strong track record of investing within this sector across Europe for 14 years.
Stephen Marquardt, CEO of Doughty Hanson, comments: “Doughty Hanson’s value-add business provides a good strategic fit with IRE and I am confident that they are best positioned to continue our legacy of creating value, investing responsibly and generating returns for our existing investors, which very much complements their own values.”
Rofe continues: “We look forward to welcoming our new colleagues from Doughty Hanson to IRE. This step allows us not only to provide continuity of service to the mandate’s existing clients but allows us to work with them to further grow IRE’s value-add capabilities and to access future opportunities in this sector across Europe, particularly in Southern Europe.”
The Doughty Hanson team joining IRE are Kevin Grundy, Senior Director; Clay Collier, Director; Jane Harrison, Director; and Henry Grant, Associate who will be based in the London office; Fernando San Juan, Director and Beatriz Domingo, Asset Management Administrator who will be based in the Madrid office; and Carlo Romano, Director and Marco Corti, Associate Director who will be based in the Milan office.
Source: Invesco Real Estate