Blue Noble has created a new real estate investment boutique in partnership with Woodman Group, for investors targeting alternative investment products.

Blue Noble said Swiss-based investment group, Woodman, has committed an initial $550m (€402.7m) of real estate assets and new capital. 

This comprises two European mixed-use portfolios incorporating office, residential and retail assets valued at $450m, as well as a capital commitment of $100m.

London-based Blue Noble was founded by four former real estate professionals from HSBC Alternative Investments Limited, Paul Forshaw, Toby Evans, Harry Heathcoat Amory and Will Michell.

Blue Noble acquires and manages physical property investments on behalf of high net worth individuals, family offices and institutional investors. 

It will target real estate assets from across the risk spectrum, initially focusing on familiar European markets.

Forshaw, said: “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.

“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.”

Forshaw said banks have, over recent years, increasingly returned their focus to core business areas including lending and asset custody rather than direct investment. 

“With sustained demand from private banking customers for access to alternative investment product, Blue Noble should be well positioned to work with those banks, and other investors, to provide appropriate and compelling real estate investment solutions.”