Bahrain's GFH Financial takes majority stake in Roebuck Asset Management, UK

Roebuck manages assets with a total investment value exceeding $1.87bln

  
A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. Image used for illustrative purpose

A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. Image used for illustrative purpose

REUTERS/Hamad I Mohammed

Bahrain-based Islamic investment fund, GFH Financial Group has acquired a majority stake in Roebuck Asset Management, a specialised logistics and real estate asset manager in the UK.

Roebuck manages assets with a total investment value exceeding £1.4 billion ($1.87 billion) covering over 15 million sq ft of floor area. The firm’s primary focus has been on the acquisition and management of logistics assets with investments made to date in over 85 properties located in the UK and European countries to include Spain, Belgium and Czech Republic, GFH said in a statement.  

With the acquisition of Roebuck, which will continue to operate independently and be managed by its founders, GFH will add significant expertise in European commercial real estate to the Group and gain strategic access to prime deal flow, the statement said, adding, this will enable the Group to more effectively expand its investment activities in the UK and European logistics real estate sector, a segment of the market showing solid fundamentals and prospects for growth. 

Hisham Alrayes, CEO of GFH, said, “This is a strategic investment into a profitable platform with a proven track record and capabilities and broad institutional investor base providing GFH with a low risk approach to further expanding the European market."

"Having recently concluded a $77million landmark acquisition of a high quality and income producing last-mile Amazon-designated logistics warehouse in Spain, we look forward to working closely with our new partners at Roebuck to bring other high potential opportunities to GFH, and our investors, leveraging their strong access to deal flow and deep expertise in the space,” he added.

(Writing by Seban Scaria; editing by Daniel Luiz)

seban.scaria@refinitiv.com

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