Henderson Global Investors is weighing the creation of new debt products later this year following the appointment last week of John Feeney as head of real estate debt within its secured credit team.
Henderson Global Investors is weighing the creation of new debt products later this year following the appointment last week of John Feeney as head of real estate debt within its secured credit team.
'We are in discussions with potential investors about a fund or segregate mandates,' Andrew Creighton, director of property, told PropetyEU at the Mipim real estate fair in Cannes this week. 'We may do both.'
Feeney said there was a 'compelling story' for a fund in the senior debt space. 'We see a 3-5 year window of opportunity.'
Creighton said that if Henderson went ahead with a fund, it would target a minimum size of EUR 300 mln and a likely IRR of around 7%. 'We hope to have something up and running by the third quarter. I would be disappointed if it was not until Q4.'
