Henderson acquires French property asset manager

Henderson Global Investors has acquired French property asset management firm Horizon Investment Management.

Henderson said the privately owned firm, which has gross assets of €3m, complements its own expertise within retail property.

As part of the acquisition, Henderson Property will take on six employees from Horizon France. Peter Winstanley’s company Winstanley & Associes, which acts as president of Horizon France, will take on the role of president for Henderson Global Investors (France).

Thibault Ancely, country head director of Horizon France, will be appointed head of Henderson Property France.

The group already has €15bn in property assets globally. Funds include the Henderson Horizon Asia Pacific, Global Property Equities, and Pan European Propety Equities funds; as well as the £787m Henderson UK Property fund run by Cameron Fraser.

Mike Sales, chief investment officer and managing director of Henderson Property, said: “The acquisition is consistent with our proven strategy of acquiring or co-investing alongside and working with partners who can strengthen our position within a particular sector or geography.

“We are optimistic about the medium term outlook for the French property market and this acquisition represents a good opportunity to capitalise on the expected value shift in French property in the near term.”

Founded in 1998, Horizon focuses on advising on asset management in the French real estate market and comprises a €250m Luxembourg closed-ended real estate fund and a number of asset management contracts to manage 25 properties.

In April 2011 Henderson’s completed a £335m takeover of Gartmore, and a number of Gartmore fund managers joined the business.

 

This article was first published on Investment Week

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