High Profile London Financier Launches Property Fund

Stephen Harris

22 December 2005

Robin Saunders, the former WestLB City of London financier, has launched a £1 billion ($1.7 billion) property fund, according to a report in The Times. Ms Saunders has teamed up with Paul Bloomfield, a high profile property dealmaker, to launch the fund, called the European Continental Real Estate Fund. According to the report, the fund has already secured £250 million from investors, thought to be wealthy Middle Eastern clients. Ms Saunders and Mr Bloomfield are working in partnership with Birch Capital, an investment company run by Benoit de Biolley, the former banker at Deutsche Bank and Morgan Stanley, said The Times report. The vehicle will be listed in Luxembourg and the partners are considering secondary listings in Riyadh and Bahrain, said the report. Mr Bloomfield and Clearbrook Capital Partners, the private equity vehicle of Ms Saunders, will manage the venture jointly with Birch Capital.