Heritage Depositary Company (UK) Limited, a Heritage Company authorised by the FCA has been appointed as depositary to Regional REIT Limited which is a partnership between Toscafund Asset Management LLP, the Investment Manager and London & Scottish Investments Limited, the Asset Manager of the property portfolio. Regional REIT is incorporated in Guernsey and listed on the London Stock Exchange.
The REIT has a 128 property portfolio worth £386m and has been created out of the merger of two existing offshore funds run by Toscafund and London and Scottish Investments Limited.
The REIT invests and manages high quality commercial properties in principal UK regions, outside of London and has built a portfolio that includes properties in Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester.
Heritage is pleased to have been selected as Depositary for the new REIT.
Mark Huntley, Managing Director of Heritage Depositary Company (UK) Limited says, “We have established an excellent relationship with Toscafund and since our authorisation by the FCA, have been providing depositary services for their two commercial property funds that merged into this new structure. We are excited at the growth of this client and this appointment further underlines Heritage’s capabilities in providing professional and efficient depositary services to UK alternative investment fund managers in a competitive market.”
Toscafund Asset Management, founded in 2000 by Martin Hughes, has evolved into a leading multi asset manager. Funds managed total over $4bn which includes global equity financials, commercial property, UK debt and activist approach. Clients of Toscafund include pension funds, international institutional funds, private family offices and high net worth individuals. Toscafund is authorised and regulated by the FCA.