Four former members of the real estate team at HSBC Alternative Investments have launched a new property investment company with $550 mln (€443 mln) of assets and new capital from Woodman Group, a Swiss asset and wealth manager.
Called Blue Noble, the London-based real estate investment management firm has been founded by former HSBC Alternative Investments real estate professionals Paul Forshaw, Toby Evans, Harry Heathcoat Amory and Will Michell.
The firm has taken control of a $450 mln mixed-use portfolio from Zug-headquartered Woodman Group, which is also providing a further $110 mln for a new investment fund focusing on the UK and Western Europe.
Blue Noble's CEO Paul Forshaw said that the vehicle is targeting a $500 mln size with additional equity raising and leverage.
'By combining Woodman’s solid financial and operational footing with our independent client-centric approach, nimble capital and established network, Blue Noble is well placed to unite potential investment outperformance with strong fiduciary responsibility, and ultimately to meet the needs of investors allocating capital to real estate assets.'
He added: 'Our long experience of operating a successful and significant global platform underpins our strategy for Blue Noble and forms the basis from which we intend to create a dynamic, genuinely client focused business.'
