'Opportunity' fund on cards
Property veteran Leo Noe is seeking investors for a £300m “new opportunity” fund. Mr Noe will manage the Devonshire UK Opportunities Fund, which is being started by F&C Reit Asset Management, the outcome of the merger between Mr Noe’s Reit Asset Management and F&C’s property division last year.
Devonshire UK Opportunities plans to take advantage of the current property market, snapping up bargains. JP Morgan is acting as broker to the fund.