Property entrepreneur Gerald Ronson has amassed a £1bn fund to take advantage of opportunities that could emerge as other companies run into trouble. Sunday Times
Ronson, through his property firm Heron International, is sitting on a cash pile of £200m.
When this is combined with borrowings and access to further funds from his wealthy investment partners, he says he is able to assemble a £1bn war chest.
Ronson’s cash pile puts him in a far better position than during the last recession in the 1990s, when a huge slice of his personal fortune was wiped out in the property crash.