Benson Eliot Capital Management, the private equity real estate firm, has appointed two partners aimed at boosting its team ready for an acquisition spree at the end of the summer.
Philip Irons, former head of direct property transactions at Schroders, becomes a partner in the firm. As head of the UK investment programme, he will execute and oversee UK real estate transactions. At Schroders he was responsible for all direct investment transactions across the £5.6bn property investment management funds.
Mogull, who set up the firm in 2005 after heading real estate at Doughty Hanson, has made no secret of his intention to attract big-name managers – and their contacts – to Benson Eliot. Mogull cited Irons’s “contacts, stature and experience” as reasons for his appointment.
It follows the appointment of Trish Geery, former head of global real estate for the Dubai Investment Group. Geery will be responsible for acquisitions in European markets, primarily France, and for managing relationships with institutional investors.
Both Irons and Geery will work on its first fund, Benson Eliot Real Estate Partners II (BEREP), which has already raised €264m against a target of €300m. BEREP will acquire completed properties and fund development in the UK, Germany, Scandinavia, Italy, France, and Central and Eastern Europe. Geery will join BEREP’s investment committee.
A spokesman said more appointments were likely before the end of the summer.