EUROPE - Rutley European Property Limited (REPL) is to list on the London and Channel Islands Stock Exchanges and raise up to £200m through a public share offer.
The real estate investment company said it aimed to generate a geared internal rate of return of at least 12% by investing in European commercial properties in the office, industrial and retail sectors.
Geographically speaking, the investment focus is on Germany, Poland, the Czech Republic, Hungary, Belgium, Switzerland and the Netherlands. In property terms, Rutley Capital Partners is looking for assets that have the potential for rental growth and/or yield compression and the potential for enhanced returns via active property management.
REPL is currently a private Guernsey company owned mainly by institutional investors. It has already acquired and/or committed to acquire a portfolio of 12 properties in Germany and Poland for around £108m and has additional properties worth £167m in Poland, the Czech Republic and Belgium in the pipeline.
This week's edition of Professional Pensions is out now.
Nearly 60% of UK employers consider defined contribution (DC) master trusts to be the "most suitable" pension fund for their employees, according to research by Buck.
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.