Rockspring appoints two advisors

Gerald Kaye, a director at UK developer Helical Bar and non executive director at Chelsea Building Society, Patrick Hall, have both agreed to take new positions on the investment committee of Rockspring’s open-ended Hanover Property Unit Trust.

London-based Rockspring Property Investment Management has made two appointments to the investment committee of its open ended vehicle, Rockspring Hanover Property Unit Trust.

Patrick Hall, a member of the investment advisory committee since 2001, has been elevated to chairman following the death earlier this year of Ron Spinney. The firm has also appointed Gerald Kaye, an executive director at developer Helical Bar as a member of the committee.

Hall is a non executive director at Chelsea Building Society and was formerly joint managing director of London-focused Great Portland Estates.

Rockspring chairman Richard Plummer, said in a statement: “In the current climate it is more crucial than ever to seek the insight and counsel of respected experts.”

The Rockspring Hanover Property Unit Trust is a Jersey-domiciled property unit trust that focuses on specialist situations and assets with management angles.

As well as four open-ended vehicles, Rockspring operates a number of closed ended funds: the German Retail Box Fund, TransEuropean Limited Partnerships II, III and IV, EuroInvest Limited Partnership and the Portuguese Property Partnership.

Its latest value-add European vehicle, TransEuropean Limited Partnerships IV, closed in March on €274 million ($347 million). Investors include the School Employees Retirement System of Ohio, Woelbern Invest AG, Industriens Pension, Vital Forsikring ASA, Windsor Trust and the National Pension Service of Korea.

Rockspring, formerly known as Pricoa Property Investment Management, was formed in 2004 via a management buyout from US firm, Prudential Financial.