Thu, 20/09/2018 - 15:10
FirethornTrust, formed by ex-Tristan Capital duo Peter Mather and Chris Webb, has secured an exclusive mandate from two US family offices to invest in UK Real Estate.
FirethornTrust is mandated to continue to diversify the expanding investment portfolios of the Stephens and Van Tuyl family offices. The venture will focus on creating a long term, diversified portfolio and will aim to take advantage of opportunities and market dislocations occurring as a result of the UK’s decision to leave the EU.
FirethornTrust will invest an initial GBP200 million into UK real estate with further equity funds to follow. The focus will be to add value and create maximum potential returns through active asset management, development, refurbishment, planning enhancement, regeneration and restructuring. The team already has in-house asset management and development expertise to deliver results on a wide range of business plans across multiple sectors. External bank debt will be utilised, targeting leverage of between 50 per cent and 65 per cent.
Mather says: “Being able to launch a new UK real estate business with committed family capital is a unique opportunity. We seek to be both proactive and reactive to the dynamic nature of the UK market. Most importantly, unlike traditional institutional real estate funds, we have no fixed investment periods, no fixed focus to specific sectors and no strict return parameters, allowing us to maximise return potential across the whole risk/return spectrum. We will react quickly and intelligently to a wide range of real estate opportunities.”
Webb says, “We are excited to be launching FirethornTrust in partnership with our investor group, at such a pivotal and unique time in the UK. We believe there will be increasingly interesting opportunities over the next few years for well capitalised investors to take long term value positions in the UK Real Estate market.”
Mather is the former Managing Director and Head of UK & Ireland Transactions at Tristan Capital Partners, and Webb former Executive Director and Head of UK & Ireland Asset Management. The FirethornTrust wider team, including Richard Whitby (CFO), Paul Martin (Development Director), and Daniel Green (Investment) are based in London and have worked together for over six years.
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