Nomura Real Estate Holdings Inc. (“NREHI” or Nomura Real Estate Group), a leading publicly-listed Japanese real estate business group, today announced that it has agreed to make a strategic investment in Lothbury Investment Management Group Limited (“LIM”), an experienced UK real estate investment manager. Under the terms of the agreement, NREHI will acquire a majority interest of 75% in LIM, with the balance of 25% to remain in the ownership of the LIM management team.
This marks the first step for NREHI and its JPY1.4 trillion (£9.2 billion) investment management business, Nomura Real Estate Asset Management Co., Ltd. (“NREAM”) to expand its operations overseas, and a significant development for Nomura Real Estate Group in strengthening its global footprint following business investments in Vietnam, Thailand, China and the Philippines.
LIM, which has £2.1bn of AUM, specialises in managing property portfolios across a range of funds, including its flagship Lothbury Property Trust. The business has over 110 high profile clients including corporate and public-sector pension funds, insurance companies, charities, private banks and other institutional clients. The company will continue to operate under the Lothbury and LIM brand under the leadership of Simon Radford, Chief Executive. The LIM management team will remain responsible for the day-to-day operations of the business and retain full autonomy over its investment strategies.
“Our investment in and partnership with LIM is a significant strategic move for our global investment management business. We are excited about the opportunities we can explore together with LIM, with its outstanding investment capabilities in the UK and its long-standing reputation among UK and international institutional investors” said Eiji Kutsukake, President and CEO of NREHI.
“We are very excited to be joining the Nomura Real Estate Group, whom we believe are the ideal partner to further develop our business. Having the institutional support, international property expertise and distribution channels of Nomura Real Estate Group will enable us to enhance further the operational and investment capabilities of our firm, and, most importantly, ensure that we continue to deliver leading investment performance to our Funds’ investors” said Simon Radford, Chief Executive of LIM.
The transaction, which is expected to close before the calendar year end, is subject to customary regulatory approvals and closing conditions. The financial terms of the transaction have not been disclosed.
Deloitte Tohmatsu Financial Advisory LLC and Linklaters acted for NREHI and Spencer House Partners and Travers Smith acted for LIM.
This is the website of Lothbury Investment Management Limited of 155 Bishopsgate, London EC2M 3TQ, United Kingdom, a company registered in England with registered number 04185370. Lothbury Investment Management Limited (or “LIM”) is authorised and regulated by the Financial Conduct Authority in the United Kingdom.
Lothbury Investment Management Limited is the manager of the Lothbury Property Trust (the “Fund”). Lothbury Property Trust is a sub-fund of the Lothbury Global Institutional Funds, which is regulated by the Central Bank of Ireland. The Fund is an alternative investment fund (“AIF”) for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive”). LIM has been appointed and acts as alternative investment fund manager (“AIFM”) in respect of the AIF. For these purposes, LIM is authorised and regulated in the United Kingdom by the Financial Conduct Authority (or any successor body responsible for the regulation of alternative investment fund managers) (the “FCA”) for the purposes of managing unauthorised AIFs. The Fund is also an unregulated collective investment scheme for the purposes of the United Kingdom Financial Services and Markets Act 2000 (the “Act”).
Certain jurisdictions may restrict by law access by their residents or nationals to the information on this website. The contents of this website are not intended to be accessed by, distributed to or used by residents or nationals of such jurisdictions. It is the responsibility of any person accessing this website to satisfy itself that its use of the website complies with the laws of any relevant jurisdiction.
Under United Kingdom legislation, the promotion of units by Lothbury Investment Management Limited in the European Economic Area (the “EEA”) is restricted by section 238 of the Act. The promotion of units by the Fund itself or by its trustees in the EEA is restricted by section 21 of the Act. Accordingly, the information on this website is directed only at:
all such persons being “exempt persons”. Units in the Fund may only be promoted to exempt persons. Persons other than exempt persons should not rely or act upon the information on this website.
The purpose of this website is to provide general information about Lothbury Investment Management Limited and the Fund. The only clients of Lothbury Investment Management Limited are the Fund and its affiliates. Nothing on this website is investment, tax or legal advice, nor is anything on this website an offer to buy or sell units or any other investment. You should take your own independent investment, tax and legal advice as you think fit.
Please be aware that ultimately the interests in the Fund, as an AIF, may only be acquired by professional investors. A professional investor (for these purposes), is every investor that is considered, or may be treated based on a request to LIM (as the AIFM), as a professional client within the meaning of Annex II of the Markets in Financial Instruments Directive (2004/39/EC).
Any marketing (within the meaning of the Directive) in the European Economic Area is carried out pursuant to LIM’s rights as an AIFM under Articles 31 and 32 of the Directive. The European Economic Area comprises of the Member States of the European Union (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Spain, Sweden and the United Kingdom) plus Iceland, Liechtenstein and Norway. Potential investors can request from LIM details of jurisdictions where notifications of the exercise of such rights has been given to the FCA.
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