AEW ties up with Arbuthnot property investment management arm

  Fund manager AEW Europe has acquired Arbuthnot Banking Group’s property investment management business. The company, which has €16bn of property assets under management in Europe, has formed a 50:50 joint venture with the ArbreIM team, headed by Richard Tanner. Tanner, who joined Arbuthnot in 2009 after quitting his role as managing director at UBS, will lead the fund management partnership to be known as AEW UK. It plans to launch an open-ended core UK property fund in early 2011. While AEW has invested in the UK previously through its opportunity funds, it has never had a dedicated UK business or fund before.   The Arbuthnot team had previously been at UBS, where it launched seven funds in the last 15 years, including the UBS Triton Property Fund.   As well as managing director Tanner, the team includes asset management director Rachel McIsaac, operations and product development director Catherine Delplace, investment director Nick Winsley and client management and capital raising director Dana Eisner.   Rob Wilkinson, head of European fund management at AEW Europe, said: “The opportunity to partner with such an experienced and successful team of like-minded real estate professionals rarely occurs, so we jumped at the chance.   “The team’s extensive experience and expertise in the UK market is highly complementary to AEW Europe’s existing real estate fund management platform.”   Wilkinson added that the new partnership represents the next step in the evolution of AEW Europe’s business in the “strategically important” UK market.   Tanner said: “The strategic fit for our team with AEW Europe, a global real estate investment platform, was compelling.   “We part company with Arbuthnot Banking Group on amicable terms and look forward to being part of AEW’s global platform.” The management team of ArbreIM was advised by The Frome Partnership.   bridget.oconnell@estatesgazette.com   To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.