Paul Whight, the retail warehousing expert with a 25 year track record in the sector, is back in the UK and has teamed up with Neil Varnham, former Henderson Global Investors head of business development and retail in the UK and Europe to launch a £300m UK retail warehousing fund.

Whight, who also runs a global and European business called Pradera, has set up his UK business Cadena, and as chairman is leading the launch of its first UK fund.

Varnham, who left Henderson in April has joined Cadena as fund director and alongside property director Richard Gore.

The trio plan to buy retail parks of between £10-£20m in the UK where they see opportunities in the sector.

Whight and his team began fund raising in February and has already secured a cornerstone investor for the fund and plan a first close in September and a second close in spring 2010. With debt the fund is planned to eventually reach £300m.