Cain Hoy, the private investment company headed by former Heron director Jonathan Goldstein, is expanding its team after investing £1.3bn.
The company, which invests in both debt and equity, usually with partners, has made two hires in London and is looking to make a further senior hire in New York.
In London, Richard Pilkington is joining as managing director where he will work closely with Goldstein on managing existing equity investments and finding new opportunities. He was previously managing director of Oxford Properties’ UK business.
On the debt side, Tanja Ennsgraber joins as associate director from LaSalle Investment Management to work with head of debt John Cole, and vice president Mateo Milan.
Most of the £1.3bn of investments made since Cain Hoy was launched at the beginning of 2014 have been in London, but next Goldstein expects to increase the pace of growth in the US.
“We are looking at a couple of transactions there already”, he said. “We’re starting a search for a senior person in the US. We don’t need a huge team because we look at large situations, but to get a few transactions under our belt in the next 18 months would be my ambition in the US.”
Cain Hoy’s existing deals include over £750m of debt investments. The largest is a £390m loan facility for Almacantar’s forward purchase of One and Two Southbank Place which will be a new headquarters for Shell and a speculative office development.
Cole’s team has also just provided a €110m debt and preferred equity package to Cyril Dennis’s Capital & Provident to refinance two assets out of NAMA. The largest is One Courchevel, a development of 44 apartments in the French ski resort to be run as a Six Senses Residences & Spa. The other is a piece of land in London’s Royal Docks near City Airport called Peruvian Wharf.
Galliard Homes, which has an existing joint venture with Cain Hoy, will be a partner at Peruvian Wharf and will work on planning consent for residential at the site.
One of the company’s first debt deals was a £125m development loan for Delancey to finance Here East, the private equity firm’s redevelopment of the giant broadcasting centre used for the 2012 London Olympic Games.
Pilkington has worked in development and investment for 25 years, and was at MGPA, now part of BlackRock, before joining Oxford Properties. Ennsgraber spent two years at LaSalle’s debt investments and special situations team after a number of roles in various European countries.