Asset management group Catalyst Capital, in a joint venture with Bank of Scotland Corporate Banking and Tom Hunter’s West Coast Capital, has launched a small deals fund, The Lothian Fund.
The fund will target real estate acquisitions of between £3m and £15m and will focus on office, industrial, distribution and smaller retail property throughout the United Kingdom. The fund has already made its first acquisition, of a multi let property in Wales for just under £5m.
The Lothian deal is the latest in a number of deals for Catalyst Capital with Bank of Scotland Corporate Banking and West Coast Capital following their joint acquisition of a substantial retail property portfolio in December last year.
In August Bank of Scotland and West Coast Capital joined forces for a £167m bid to acquire UK-listed property investor Grantchester Holdings. The recommended cash offer property group Hammerson which offered a £192m for the out-of-town retail park property owner.