Invesco lands Doughty Hanson RE assets

More than one year after private equity firm Doughty Hanson decided to exit the real estate business its assets and team have passed over to the global asset manager.

Global asset manager Invesco has added assets in Europe valued at €533 million and a team of eight professionals to its real estate business.

Invesco Real Estate has announced today it had been awarded the asset management of private equity firm Doughty Hanson’s value-add real estate assets in Spain, Italy and the UK.

The bolting on of Doughty Hanson’s real estate team to that of Invesco comes more than one year after the former concluded following a strategic review that it would exit from the real estate market after 12 years of participation.

Andy Rofe, managing director of Invesco Real Estate, said: “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 Invesco Real Estate’s value-add capabilities and to access future opportunities in this sector across Europe, particularly in Southern Europe.”

Joining Invesco are: Kevin Grundy, senior director, Clay Collier, director, Jane Harrison, director, Henry Grant, associate, Fernando San Juan, director, Beatriz Domingo, asset management administrator, Carlo Romano, director, Marco Corti, associate director. They will work from Invesco’s offices in London and Madrid. The new joiners also enable Invesco to open another office in Milan, the firm’s eighth office in Europe.

Stephen Marquandt, chief executive officer of Doughty Hanson, called the merger a “good strategic fit” and he said: “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 our own values.”

Invesco Real Estate manages approximately $60 billion of assets and employs 360 staff across 19 offices around the world.