Schroder Property has invested £100m (€117 million; $152 million) in a fund operated by Mayfair Capital and managed by a former partner at Rockspring Property Investment Managers.
London-based Mayfair’s open-ended vehicle, Mayfair Capital Property Unit Trust (MCPUT), is hoping to buy “core” and “core-plus” assets and will be managed by Robert Palmer, a former partner and chief investment officer at pan Europe firm, Rockspring Property Investment Managers.
Mayfair was launched in 2002 by former UK property brokers Guy Brogden and James Thornton and manages five funds, including an opportunistic vehicle, MC Special Opportunities Fund.
Graeme Rutter, head of UK property multi-manager at Schroder Property, said Palmer had a proven active management style.