Prince Charles’s £1bn fund launch
Date:
14/07/2008
Property Week
Prince Charles’s £1bn fund launch
The Prince of Wales is to set up a £1bn fund to invest in urban regeneration and sustainable property.
The prince, advised by Credit Suisse, has appointed several property figures to set up the fund Tellesma.
A third of the fund will be owned by the 19 charities backed by the price, which include the Prince’s Trust.
The other two-thirds will be owned by the investors that are being approached, who are thought to be Middle Eastern.
Ian Henderson, former chief executive of Land Securities, will be chairman. His team will include Mark Collings, who worked with him at LandSecs as chief operating officer; John Anderson, former managing director of Bovis Europe; and former PricewaterhouseCoopers director Paul Harries.
The Foundation for the Built Environment will be a consultant for the fund.
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