Investment manager Hobart Partners and developer and asset manager Cadena have formed a £150m strategic alliance, Property Week can reveal.
The alliance will invest in value add retail, leisure and industrial and distribution assets and development opportunities in the South East and Midlands.
The companies will seek to identify opportunities with asset management, reconfiguration or development potential, with an individual lot size of between £15m and £25m.
Barrie Whight, managing director at Cadena, said: “This is a logical step for both Cadena and Hobart, utilising our joint skills to secure and deliver the right assets and developments in what is a hot property market.”
Sas Bhadra, one of the three founding Partners of Hobart Partners, said: “Both businesses share the same investment philosophy and have complimentary skillsets, which together can generate opportunistic returns for our investors. Cadena brings in deep sector understanding and the founding partners of Hobart have breadth of global experience in private equity and portfolio management.”
Whight and Bhadra have known each other for several years and have worked together at Paul Whight’s Pradera for more than three years.
Cadena was established in 2005 by Paul and Barrie Whight.
Hobart Partners is a real estate investment manager founded by Jeff Harris, Bhadra and Oliver Ontiveros, with offices in London and Chicago. The founding partners have over 65 years and £5bn of combined deal experience, across all risk return spectrum and spanning four continents.