Geoffrey Shaw to lead BlackRock UK Long Lease Property Fund
BlackRock has appointed Geoffrey Shaw as portfolio manager for the BlackRock UK Long Lease Property Fund which provides institutional investors with long-term inflation-linked income streams.
Shaw joins from Aviva Investors, where he was assistant fund manager of the Lime Property Fund for six years. Prior to joining Aviva, he worked as a senior surveyor at Cushman & Wakefield, where he advised on investments and developments in the Central London market.
The fund invests in alternative commercial long lease property assets in the UK, such as student accommodation, ground leases, primary healthcare and housing associations, as well as more traditional assets such as supermarkets and offices. It has already attracted GBP250m from six pension funds and more than GBP100m of the seed portfolio has already been invested in property assets with an average lease term of over 20 years.
Marcus Sperber, head of real estate for BlackRock in Europe, the Middle East and Africa, says: “Geoffrey will play a leading role in driving forward the fund which demonstrates our commitment to the real estate sector and our expertise across a range of alternative assets.”
Shaw says: “I am delighted to be joining BlackRock to lead the already successful fund. BlackRock has a very strong reputation in real estate and has a long track record of developing solutions to meet the needs of institutional investors.”