Brooks Macdonald to launch property fund in joint venture

Brooks Macdonald is set to launch a property fund to the retail market after forming a joint venture called North Row Capital.

The Ucits IFSL North Row Liquid Property fund will be managed by Steven Grahame, supported by deputy manager Niall O’Connor.

Mr Grahame, who approached Brooks Macdonald with the concept for the fund, is a former real estate alternatives chief investment officer at Hermes and a fund manager at Pacific Real Estate Capital Partners.

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The fund is currently available to institutional investors but is being made available to retail investors at the end of January with a minimum investment of £10,000.

The fund offers exposure to global real estate markets mainly through property derivatives but also equity and debt, targeting a yield of between 4.5 per cent and 5.5 per cent.

North Row Capital is a joint venture between Brooks Macdonald, Mr Grahame and Gerald Parkes.