Hansteen launches 200m pound industrial fund

Hansteen, the FTSE 250-listed investor in continental European and UK real estate, has launched the Hansteen UK Industrial Property Unit Trust II (HPUTII).

Hansteen, the FTSE 250-listed investor in continental European and UK real estate, has launched the Hansteen UK Industrial Property Unit Trust II (HPUTII).

The fund, which will be focused on high-income generation as well as growth in net assets, is targeting annual returns, after fees and expenses, of 12-15%.

Hansteen said that the fund would be its vehicle for investing in UK industrial property with a value of £15m or less, or portfolios under £30m, for the earlier of either the fund becoming fully invested or in 18 months time.

The group said that net income would be distributed quarterly, the life of the fund would be six years and it would be geared to a maximum of 45% as equity was deployed.

Hansteen reported that the fund had been seeded with approximately £49m of property and would have the capacity to invest up to approximately £200m in UK industrial property.

The group added that the fund had been launched with £107m of equity; one third provided by Hansteen and two thirds from clients of Aviva Investors Real Estate Multi-Managers (REMM).

Ian Watson, Joint Chief Executive of Hansteen said: "We are delighted to have entered into this venture with Aviva Investors, with whom we already enjoy a successful relationship as a co-investor in the first fund. The quantum of their investment is testament to their confidence in us as a partner who can deliver performance."

Alistair Dryer, Senior Fund Manager at Aviva Investors (REMM) said: "This is a very exciting opportunity to invest alongside our partners Hansteen at what we believe is an opportune point in the investment cycle for our clients."

MF

Recommended

Three top-notch Asian stocks to buy
Share tips

Three top-notch Asian stocks to buy

Professional investors Adrian Lim and Pruksa Iamthongthong, managers of the Asia Dragon Trust, pick three of their favourite Asian stocks to buy now.
23 Sep 2022
Why you should short this satellite broadband company
Trading

Why you should short this satellite broadband company

With an ill-considered business plan, satellite broadband company AST SpaceMobile is doomed to failure, says Matthew Partridge. Here's how to short th…
23 Sep 2022
Share tips of the week – 23 September
Share tips

Share tips of the week – 23 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Sep 2022
Momentum investing – and why price matters more than anything else
Investment strategy

Momentum investing – and why price matters more than anything else

The recent fashion for momentum investing, with investors piling into expensive growth stocks, is nothing new, says Merryn Somerset Webb. And the dang…
21 Sep 2022

Most Popular

Could gold be the basis for a new global currency?
Gold

Could gold be the basis for a new global currency?

Gold has always been the most reliable form of money. Now collaboration between China and Russia could lead to a new gold-backed means of exchange – g…
22 Sep 2022
Paypal, bitcoin, and the weaponisation of money
Bitcoin & crypto

Paypal, bitcoin, and the weaponisation of money

Recent events have shown how both business and governments can “weaponise” money and shut down dissent. What to do? Buy bitcoin, says Dominic Frisby.
22 Sep 2022
Why you should short this satellite broadband company
Trading

Why you should short this satellite broadband company

With an ill-considered business plan, satellite broadband company AST SpaceMobile is doomed to failure, says Matthew Partridge. Here's how to short th…
23 Sep 2022