Hansteen Raises Funds

Hansteen has managed to raise an extra £180m fund to take advantage of the industrial market. This has raised the funds up the £500m level according to reports.It plans to introduce debt once the equity has been invested gearing it at a maximum of 50%.

The fund, which will be focussed on high income generation and growth in net assets, is targeting annual returns, after fees and expenses, of 12% to 15%.

Hansteen will be the property advisor to the fund and will receive an asset management fee and a performance based fee equal to 20% of returns above the marker of 10% a year – which will rise to 30% after the return reaches 15% a year.