Schroders is planning to launch a £500m opportunity fund in the autumn, anticipating a recovery in the South East office market.
The fund will invest in a mix of shopping centres, industrial property and retail parks, alongside City, mid-town and possibly western corridor offices.
The new fund will be twice the size of Schroders’ successful existing Gresham I fund, which is predominantly retail-based.
Director, Joe Fround, will oversee the fund and head the bank’s new division, Schroder Real Estate Ventures.
Schroders has also appointed Paul Taylor, formerly of Merrill Lynch, as Head of Direct Property Investment. He will be responsible for managing Schroders’ £4.6bn balanced and specialist unit trust ranges.
Source: Freeman News/ Estates Gazette