Tamar Capital Partners has completed the management buyout of the Western European part of its real estate asset management business. Led by Rob Brook, the buyout is backed by the directors of the company, including Chris Pope, Tom Stenhouse and Daniel Herrmann, who will ultimately own the newly formed business, supported by a team of 16 people.
Tamar Capital Partners has completed the management buyout of the Western European part of its real estate asset management business. Led by Rob Brook, the buyout is backed by the directors of the company, including Chris Pope, Tom Stenhouse and Daniel Herrmann, who will ultimately own the newly formed business, supported by a team of 16 people.
Comprising offices in London, Paris, Berlin and Dublin, Tamar's Western European business has £600 mln (EUR 715 mln) of assets under management. Leveraging its proven track record of active asset management and its strong Western European network of highly skilled and experienced property professionals, the company is focused on value-add and opportunistic property investment and asset management.
Tamar's principal client is the Tamar European Industrial Fund (TEIF), a Guernsey registered, closed-ended investment company focusing on industrial property assets in Western Europe, which has been managed by key individuals in the team since its inception in September 2006.
Listed on the London Stock Exchange, TEIF owns a portfolio of industrial assets with a value of circa £235 mln. Following the completion of the management buyout, TEIF’s Board announced that it has revised the terms of its contract with Tamar to align it closely to the recent changes in TEIF’s investment policy, as voted on by its shareholders in August 2011.
Over the last two years, Tamar has been involved in the sale of over £300 mln of assets and the refinancing of a further £160 mln.
