The non-public fairness agency based by Man Arms is plotting a takeover of Boatfolk, one of many UK’s largest unbiased marina house owners.
The elder Mr Arms retired from his full-time roles at Terra Firma two years in the past, having constructed it over a number of a long time into certainly one of Britain’s most outstanding non-public fairness teams.
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Amongst its investments – a few of which turned out to be financially and reputationally infamous – had been the music firm EMI, the care properties operator 4 Seasons Well being Care and Annington Properties, the previous proprietor of 1000’s of Ministry of Defence properties.
Extra just lately, it has targeted on managing Mr Arms’ household’s cash, though it does nonetheless have some exterior traders.
Its curiosity in Boatfolk is unsurprising, given the corporate’s underlying property portfolio.
Owned by Mansford, a prolific investor in actual property property, Boatfolk owns marinas at East Cowes on the Isle of Wight, Weymouth in Dorset and Royal Quays in North Shields.
Its portfolio contains 11 websites in whole.
The identities of different bidders for Boatfolk was unclear on Friday, though business sources speculated that Crestline, an funding agency, may very well be amongst them.
The Boatfolk public sale is being dealt with by CBRE, the property agent.
A spokesman for Terra Firma declined to remark.
