Henderson names UK fund manager
Michael Neal has joined Henderson Global Investors as director of property for its £1.2 billion UK Retail Warehouse Fund. He comes from Goodman Property Investors, where he was responsible for the fund management of Goodman’s two retail park funds: the £550 million Goodman UK Retail Parks Trust and the Two Rivers Trust valued at over £200 million. Neal has spent over 14 years within the retail property industry, primarily working in the retail warehouse sector. He has also held positions at Hammerson, Sainsbury’s and Homebase.
Henderson Global Investors’ UK Retail Warehouse Fund was launched in July 2001, with less than £200 million of equity, to invest in leading UK retail warehouse parks over 10,000 square metres let to strong covenants on long leases and that offer opportunities to create or add value through active asset management. Since its launch, the fund has grown to more than £1.2 billion of assets under management. In 2006, investors agreed to extend the fund’s life by seven years to December 2015. The fund comprises 20 prime retail parks mainly in London and the south east.