HDG Mansur, the US-based specialist in Shariah-compliant real estate investment structures, has announced the launch of two new global funds. The firm says the funds are expected to have a combined total size of more than $1bn (EUR 671mln).
HDG Mansur, the US-based specialist in Shariah-compliant real estate investment structures, has announced the launch of two new global funds. The firm says the funds are expected to have a combined total size of more than $1bn (EUR 671mln).
The first of the new funds, HDGM International Property Fund, will be targeted at high net worth individuals and institutions and will aim to raise more than $200mln. The closed-end fund will initially target the US, the UK, Germany, the Netherlands, France, Switzerland and the Nordic region. Denominated in US dollars, the fund will invest in single-and-multi tenant properties leased to major corporations 'with stable or improving credit'. The fund will seek to obtain stable income and minimise risk through diversification by global product type, tenant, industry and location based upon market research and fundamental analysis.
HDGM International Property Fund is modelled on the $2bn HSBC Amanah Global Properties Income Fund. The HSBC Amanah fund was launched in 2002 and is the largest open-ended Shariah-compliant fund in the world.
The firm is also launched a closed-end real estate fund, HDGM Opportunity Fund I, for high net worth individuals and institutional investors seeking opportunistic returns and a diversified portfolio to capitalise on the deteriorating credit market conditions. The fund will focus on high-growth markets in selected areas of the US, such as the Southeast and Southwest, that are projected to experience stronger growth potential as the economy recovers.
The Fund will aim to raise $350mln to acquire, develop and/or reposition large-scale residential and/or mixed-use developments that provide risk-adjusted opportunistic returns.
Harold Garrison, chairman and CEO of HDG Mansur said: 'We have been reviewing the market closely over the last year and have identified these immediate investment opportunities. These Funds address both ends of the investment risk spectrum providing investors with choice and diversification.'
HDG Mansur has to date managed, developed and advised on a total of $5.8bn in international real estate investments of behalf of private clients, and currently has $2.6bn of real estate assets worldwide including the HSBC Amanah Global Properties Income Fund.
