Henley Investments, the boutique real estate private equity firm, has raised £200m from a string of institutional investors to provide UK residential development finance.
Story is also the founder of RS Property Finance, which was launched in 2008 to provide mezzanine finance to property developers and has executed over 30 mezzanine loans in the past four years to experienced developers in London and the Home Counties, with a particular focus on luxury developments in the £2m to £25m GDV range.
London and South East development finance has been picking up over the last 12 months, with the vast majority of the £4bn of development finance capital available this year earmarked for residential finance, as reported by the Association of Property Lenders (APL) and the Investment Property Forum’s Real Estate Lending Forum lending intensions findings.
Henley’s platform is focused on five core strategies: prime London residential development, commercial investment via both a deep value high yield and a capital-preservation play, a healthcare fund and now HPF, a debt-focused business.
Story said: “There is a significant shortage of capital available to the private UK house building sectors and our objective is to help bridge that gap.”
Ian Rickwood, chief executive officer of Henley Investments, added: “I am very excited to be able to announce this new debt finance venture, which will combine Henley’s proven capital raising and property management skills with Richard’s 20-year experience in managing complex Structured Financing & Lending businesses.
“The Henley platform continues to grow behind sound strategy, a talented team and hungry investor base.”
Blackrock’s real estate head Jeff Morton joined Henley last year.
Henley’ recent deals include a super-prime office to resi conversion in St James and the Scottish HQ of Babcock.