Barwood Capital names new managing director

Northampton-based Barwood Capital has reshuffled its board, with its head of property Hugh Elrington appointed as managing director. Jo Greenslade, a founder of the business and previously managing director, will focus on a role as director of strategy and funding. Barwood said Greenslade, who has been managing director since 2015, will “continue to play a key role in the business”. A new chief financial officer has also been appointed, although Barwood did not disclose further details. The hire will be announced at the end of the month. Elrington joined Barwood in 2018 from Rockspring Property Investment Managers, where he was head of UK transactions. Greenslade said: “During the last four years we have achieved outstanding growth and I am delighted that Hugh has agreed to lead the team in delivering our next ambitious phase of growth, allowing me to focus on our corporate vision and strategy and on developing strong relationships with existing and new investors and partners.” During the past four years, Barwood has grown its assets under management to around £300m. Last year it delivered a 16% internal rate of return to investors in its 2012 regional property fund. Its fourth fund, mainly raised in 2017, is “on track” to invest in roughly £200m of assets, including four development sites in joint venture with British Airways Pension Trustees. Barwood Capital’s other board members are: Alan Rudge, Steve Chambers, Ed Henson, and Andrew Barlow. Barwood said future fund launches would be announced shortly. The company is currently speculatively developing more than 740,000 sq ft of logistics space across five sites in Bedford, Bristol, Crawley and West Yorkshire. These sit alongside multi-let industrial, residential and care home portfolios. To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette