Apache Capital Partners, a London-based co-investing property investment manager, is looking to raise £200-300 mln (EUR 227-341 mln) on its first raise for three UK property funds. In a statement on Tuesday, the company said that, depending on its success, it will seek to raise a similar amount again on a second raise.
Apache Capital Partners, a London-based co-investing property investment manager, is looking to raise £200-300 mln (EUR 227-341 mln) on its first raise for three UK property funds. In a statement on Tuesday, the company said that, depending on its success, it will seek to raise a similar amount again on a second raise.
Apache, which was launched in March 2008 by Paul Orchard-Lisle to take advantage of prevailing market dynamics, has structured three specialist closed-ended funds concentrating on the UK market. The funds - Apache Roxylight UK Infrastructure Opportunity Fund; Apache UK Active Commercial Opportunity Fund and Apache Prime Central London Residential Opportunity Fund, are expected to deliver returns of 12-15% per annum, it said.
'At Apache Capital, we believe that the UK property market is nearing the perfect time for the counter cyclical buying opportunity of a generation. My colleagues and I at Apache Capital will focus on taking advantage of the excellent opportunities that we believe will arise in this market,' Orchard-Lisle said.
He added: 'Whilst we are in no rush to invest the capital, we believe now is the time to take advantage of the marketplace in the last quarter of 2009 and onwards for the benefit of Apache Capital’s investors.
