Noble Fund Managers is starting a property investment arm that will offer a range of products to high-net-worth investors.
Leading the team will be Steve Taylor and David Cunnington, who have moved to Noble from Close Brothers where they managed the syndicated and commercial property portfolios.
The group will offer funds to retail and institutional investors but says it is trying to move towards targeting the man in the street and will be offering products with a minimum investment of £5,000.
The range will include open-ended unitised products and closed-ended single-transaction deals.
This is the first time Noble has raised funds for direct commercial property investments but the group invested over £500m in private finance initiative deals over the last four years.
Director Steve Taylor says the group is aiming to offer a different choice for property investors who are looking for actively managed funds with a different risk profile.
Chief executive Henry Chaplin says: “Noble Fund Management is actively developing new funds in growth areas. We are extremely pleased that Steve and David have joined us and they will be supported by experienced property asset managers.
“The property focused nature of the team is designed to produce strong results for all investors.”