Osborne+Co establishes new investment company
A new investment management company has been created by the directors of global property developer Osborne+Co.
The new firm has been established to take over the management of Osborne+Co’s development and investment portfolio with a view to building a stand-alone, independent real estate investment management business.
Osborne+Co co-founder Conor Osborne and Director Rajesh Budhrani have been joined by Rishi Khurana, formerly at Sidra Capital, to set up OCIM (Osborne+Co Investment Management).
Combining careful underwriting and meaningful co-investment, OCIM’s primary mission is to become the natural investment partner for globally focused high-net-worth-individuals (HNWI’s), family offices, pension funds and other sophisticated investors.
The firm, which will be based in London, will initially target value add acquisitions and development opportunities across the UK, harnessing Osborne+Co’s existing footprint and infrastructure, but will be owned independently by the founding directors.
The team will take over the management of a select number of Osborne+Co investments with a GDV of more than GBP500 million, which is expected to grow substantially in the coming year, despite global economic challenges. This includes the iconic Met Tower in Glasgow, and the masterplan regeneration of Lancefield Quay (Glasgow) and the Belfast Waterside.
OCIM has already completed its first deal as the new entity, acquiring a ten-acre site in Dublin’s Sandyford sub-market for EUR23.0m on behalf of a consortium of private investors including Vanguard Real Estate.
Conor Osborne, Director and Head of Investment, said: “We are incredibly excited to have established OCIM, building on what has been a period of significant investment across the UK for our sister company Osborne+Co. We have been working diligently behind the scenes on new transactions with a number of private investors and family offices and we expect to close these in the coming weeks.
“We are working on raising a significant amount of third party capital and while we are all currently experiencing a period of uncertainty, we believe investors are not just seeking but preparing for a period when markets return to a degree of normality in the UK and further afield”.
The firm currently shares the existing infrastructure of Osborne+Co, giving it a platform of 10 global offices, including 4 UK offices outside of London, as well as Dublin, Lisbon, Dubai, Singapore and Manila.
Rishi Khurana, Director and Head of Credit, says: “We are fortunate enough to be able to leverage the extraordinary skillset of Osborne+Co’s world-class team, which is currently building Santander Bank’s landmark new workplace in Milton Keynes and JP Morgan’s new European Technology Hub in Glasgow. We plan to quickly grow our team here in London and bolster our existing infrastructure with key hires in Ireland, Scotland and Singapore to be announced soon, thereby offering our global investor base access to local expertise.”