Rowan Asset Management has launched a £250m UK opportunity fund as it continues its return to the UK market.

The fund manager, which creates funds for high net worth individuals, has focused on Germany for the last few years, but returned to the UK last summer as it saw value starting to emerge.

Back to basics

It has raised £50m of equity, primarily from US investors, which with gearing will give it a total of £250m to spend.

It will look to spend £50m in the next 12 months, in all sectors. It is looking to provide an internal rate of return of 15-20% through a strategy of active asset management.

Managing director Nick Jacobs said: ‘We’re looking to go back to basics, and looking forward to being able to do proper property deals again.’