Gerald Ronson is forming a club of wealthy investors in a new vehicle, marking his return to the UK and European commercial property markets.
This is the first time Ronson has launched a fund open to third-party investment.
It is being positioned as a property club for wealthy investors and is said to have already received backing from a number of groups, including Middle Eastern sovereign wealth. Ronson has ties with investors in Saudi and Oman.
Ronson’s property group, Heron International, is expected to invest as much as £75m. Heron itself is backed by wealthy US investors, including Larry Ellison, the Oracle chief, Michael Milken, the former junk-bond king, and Steve Wynn, the casino mogul.