Mike Edwards, CB Richard Ellis’s head of City investment, Jones Lang LaSalle’s director of City investment Nigel Fox and LaSalle Investment Management’s fund manager David Marten are to set up an asset management business.

The three long standing friends this week resigned from their firms and plan to set up the new venture that will focus on central London asset management and co-investment.

Edwards said: “There are not many people that have the ability to advise and co-invest who do not already have baggage from previous ventures.”

Edwards has been with CBRE for 22 years, Fox has been at Jones Lang LaSalle for close to 20 years and Marten has previously worked at Quintain and Jones Lang Lasalle.

Edwards said the trio will work closely with both CBRE and Jones Lang LaSalle.

Julian Stocks, managing director, markets group at Jones Lang LaSalle said: "After 20 years with Jones Lang LaSalle, Nigel wants the challenge of being a principal. We hope to work for him as a client in the years to come and wish him every success for the future."

Martin Samworth, managing director at CB Richard Ellis UK, said: “I would like to thank Mike for his contribution to the firm over the years. And I look forward to CBRE working with him again in the future."

A name for the business is yet to be decided.