£250m UK opportunity fund launched by Rowan

A new fund aimed at high net worth investors has been launched by Rowan Asset Management.

The £250 million UK opportunity fund has targeted Germany for the past few years but Property Week stated it has returned to the UK in recent months.

It has already raised £50 million in equity, mainly from investors in the US, which means with gearing it can spend £250 million.

Some £50 million will be spent in the next year across a range of sectors, with an internal rate of return of between 15 per cent to 20 per cent through active asset management.

Managing director Nick Jacobs told the website: "We're looking to go back to basics, and looking forward to being able to do proper property deals again."

Founded ten years ago, the company's mandates stand at around £500 million; the company is privately owned and co-invests in many of its own funds.

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