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The London-based fund manager oversees sharia-compliant vehicles, and is planning the launch of a euro300m-euro500m international property fund that will focus on non-core, income-producing assets
Nearly three years ago, HDG Mansur announced the launch of two funds, just a month before Lehman Brothers filed for bankruptcy on 15 September 2008. The unfolding financial crisis caused the sharia-compliant fund manager to shelve a $200171 European core fund and a $35om (?247111) opportunistic fund.
Now, HDG Mansur is back and hopes to raise $3oom-$50om for a new international property fund. But it wasn't simply a case of dusting off the shelved funds, according to Harold Garrison, chairman and founder of HDG Mansur.
"In 2008, investors were looking for capital appreciation and higher returns," says Garrison. "That's not where investors are today. Today is more like 2002, with a focus on minimal risk. Investors are looking for income."
Focus on single-let assets
The new fund will invest in office and logistic assets and target a 7-8% income yield. The focus is on single-let assets in the US, UK and Germany, market which, Garrison believes, bottomed out at the end of 2010. HDG Mansur...