A start-up private equity real estate firm, Hudson Global Capital Partners, is looking for £75 million (€88 million; $124 million) to invest in Central London property, developments and joint ventures.
The fund, called Open Sky, is aiming for internal rates of return of 14 percent over the life of the fund, expected to be 10 years.
Lord Poole, who is a former political advisor, is chairman of the firm. Directors include Stephen Alston, who formerly worked for the United Bank of Kuwait.
The announcement comes amid a rash of firms that have revealed plans to try to capitalize on what is expected to be a golden era for investment in the UK.
Barwood Capital, for example, is trying to raise £50 million in order to take advantage of “historically low capital values”. Its vehicle, the Barwood Property Investment Fund, will invest directly in income producing industrial and office properties backed by “good tenant covenants” and will actively manage the assets to maximise performance , it said in a statement.
Barwood Capital is a subsidiary of Barwood, the UK development partner for CalEast, the property investment joint venture between LaSalle Investment Management and the California Public Employees’ Retirement System.
Others to come out an announce plans include NewRiver, which wants to raise £250 million via an IPO in London later this month.
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