Value-add investor seeks to build £1bn portfolio with Spire backing

Spire Ventures, the investment management vehicle run by Faisal Butt, has teamed up with entrepreneur James Caan to back value-add property company QuoinStone Investment Management.

The pair, which teamed up to back 90 North in 2011 and have seen that company grow to a propco with more than $1.5bn (£1.1bn) of asset under management, is looking to deliver the same success with its latest investment.

QuoinStone, established by Tim Struth and Steve Howling, is seeking to build a business with an initial £1bn of assets under management.

It will target multilet offices in London and the big