One of the property industry’s best-known investment bankers is joining GIC to become its new head of UK real estate.
Iain Cahoon, managing director and co-head of EMEA of real estate, lodging and leisure at UBS, joined the bank in 2005 after studying at the University of Reading. As part of a team led by global head Fergus Horrobin his clients included Intu, CapCo, British Land, Land Securities, Derwent London and SEGRO.
Cahoon will join the Singaporean sovereign wealth fund in mid-February, working under Madeleine Cosgrave, who took over as head of real estate in Europe in June following the retirement of Chris Morrish.
One of the property industry’s best-known investment bankers is joining GIC to become its new head of UK real estate.
Iain Cahoon, managing director and co-head of EMEA of real estate, lodging and leisure at UBS, joined the bank in 2005 after studying at the University of Reading. As part of a team led by global head Fergus Horrobin his clients included Intu, CapCo, British Land, Land Securities, Derwent London and SEGRO.
Cahoon will join the Singaporean sovereign wealth fund in mid-February, working under Madeleine Cosgrave, who took over as head of real estate in Europe in June following the retirement of Chris Morrish.
GIC holds a growing collection of direct investments and has been expanding its student accommodation operations, having bought a 7,150-bed portfolio from Oaktree last September for £344m. GIC also owns a 50% stake in Broadgate, EC2, and a 17.5% stake in the Bluewater shopping centre in Kent.
It is competing to buy Blackstone’s €13bn (£11bn) Logicor European logistics business, which has a substantial UK portfolio.
GIC’s indirect investments in third-party funds are overseen separately by Tracy Stroh, head of tactical opportunities.
• GIC has bought a 50% stake in the Watermark leisure development in Southampton for £48.5m from Hammerson. The 183,000 sq ft scheme opened last month and sits adjacent to the Westquay shopping centre, which the duo also own together.
The fund has also completed its €2.4bn purchase of logistics firm P3 from Ivanhoé Cambridge and TPG following EU regulatory approval.
To read an interview with Madeleine Cosgrave see next week’s Estates Gazette (14 January)
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