Over the next three weeks Stephen and I are road-showing to potential investors to raise equity for our first major real estate fund. Our aim is to raise £90 million of equity, to which we will add £60 million of debt to give a total initial capacity of £150 million.
After an initial investment period of about 18 months we expect to show a cash on cash return of c.7% with a target IRR in excess of 10%.
Investments will be made in a sector where Stephen and I have long experience.
This is an exciting next step in the evolution of Recept and I hope to be able to share more details with you in early September.