Tamar Capital completes management buyout

Tamar Capital Partners is pleased to announce that it has completed the management buyout of the Western European part of its real estate asset management business.

Led by Rob Brook, the buyout is backed by the directors of the Company, including Chris Pope, Tom Stenhouse and Daniel Herrmann, who will ultimately own the newly formed business, supported by a team of 16 people.

Comprising offices in London, Paris, Berlin and Dublin, Tamar's Western European business has circa £600 million of assets under management. Leveraging its proven track record of active asset management and its strong Western European network of highly skilled and experienced property professionals, the company is focused on value-add and opportunistic property investment and asset management.

Tamar's principal client is the Tamar European Industrial Fund ('TEIF'), a Guernsey-registered, closed-ended investment company focusing on industrial property assets in Western Europe, which has been managed by key individuals in the team since its inception in September 2006.

Listed on the London Stock Exchange, TEIF owns a portfolio of industrial assets with a value of circa £235 million. Following the completion of the management buyout, TEIF's Board announced that it has revised the terms of its contract with Tamar to align it closely to the recent changes in TEIF's investment policy, as voted on by its shareholders in August 2011.

Through its combination of local expertise, contacts and in-depth property investment and asset management experience, and its unified international standards of reporting and analysis, Tamar seeks to deliver top quality operational performance and financial returns, whilst maintaining best practice investor communications and reporting standards for its clients and partners.

Over the last two years, Tamar has been involved in the sale of over £300 million of assets and the refinancing of a further £160 million. It has established a particular specialization in managing single assets valued between £2 million and £20 million or multi-asset portfolios, establishing and executing business plans over the short, medium and longer term. Typically, focus will be on the following geographies and sectors:

• Germany – retail and industrial across the country
• France – industrial and offices in the Paris outskirts and the regions
• UK – offices and industrial in Greater London and the South-East/South-West portfolios across the country.
• Ireland – both commercial and residential in the major centers.

The company will continue to focus on these core skills and services in order to secure additional opportunities and thereby grow its business. It envisages that this will primarily be achieved by creating new asset-led joint ventures and winning separate account mandates. Its key offer is providing an experienced and focused platform to investors in real estate targeting value-add or opportunistic returns in the main European markets.

In addition, Tamar will provide solutions for current owners of real estate, including banks and original sponsors, who are looking for exit strategies in order to release capital and realize value.

Rob Brook, Chief Executive of Tamar Capital Partners, comments: "With a strong team of skilled investment professionals and asset managers across Western Europe, who have a proven track record of realizing value from assets even in the face of challenging market conditions, we look forward to the next exciting chapter in Tamar's growth.

"Our core business is firmly focused on seeking value-add or opportunist returns through highly selective acquisitions and active asset management initiatives, as well as providing strategic and tactical advice for those seeking to realize value from assets that they no longer wish to hold. We therefore feel well positioned to take advantage of the many opportunities that arise from current market conditions."

Source: FTI Consulting

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