Initiated in 2013, the UK-domiciled vehicle will add to its existing private loans and commercial opportunities remit, which focused on property in London and the South East, branching out to target all UK real estate asset classes and regions.
Chris Taylor, Hermes’ head of private markets and chief executive of real estate, said: “Real estate debt continues to provide good relative value as an investment class and our revitalised fund puts Hermes in an ideal position to take advantage of developing opportunities across the UK.”
The announcement follows the fund’s completion of its first three real estate debt deals, which carry a loan-to-value ratio between 60-65% on a three –six year view.
Vincent Nobel took over management of the fund six months ago after joining from M&G Investments, with Hermes further bolstering its real estate debt team in April with the recruitment of associate Ben Patton from Barclays Bank alongside Philip Nell set to join as fund director in July.
