Henderson Global Investors’ EUR 15 bn property business has acquired Horizon Investment Management France, a privately owned French asset management firm, as part of its strategy to double its French assets under management by 2015. Financial details were not disclosed.
Henderson Global Investors’ EUR 15 bn property business has acquired Horizon Investment Management France, a privately owned French asset management firm, as part of its strategy to double its French assets under management by 2015. Financial details were not disclosed.
Founded in 1998, Horizon France focuses on asset management in the French office market. The company's activities include advisory services for a EUR 250 mln Luxembourg closed-end real estate fund as well as seven contracts to manage 25 properties.
As part of the acquisition, Henderson Property will take on six employees from Horizon France. Peter Winstanley’s company Winstanley & Associes, which acts as president of Horizon France, will take on the role of president for Henderson Global Investors (France). Thibault Ancely, country director of Horizon France, will be appointed head of Henderson Property France.
The combined 13-strong team at Henderson Property France will manage the transferring mandates. Henderson claims 'the two businesses complement each other as Horizon France’s primary capability is in the office sector and Henderson Property France's primary expertise lies within the retail sector'.
'We are optimistic about the medium term outlook for the French property market and this acquisition represents a good opportunity to capitalise on the expected value shift in French property in the near term,' said Mike Sales, chief investment officer and managing director of Henderson Property.
Horizon Investment Management’s other European offices in the UK and the Netherlands as well as its operations in Asia Pacific are not included in the transaction. These will continue to be independently owned and managed.
