Fund manager Safeland has grown its active management fund to £200m.
The Safeland Active Management fund which invests in properties that provide flexible work space for small businesses under the brand name ‘Flexspace’, has raised new equity and agreed an increased banking facility.
Australian fund manager Babcock & Brown has invested an initial sum of up to £50m, directly and through some of its managed funds. Electra Partners, which made an initial £15m investment in 2006 through funds it manages, has commited a further £5m.
Larry Lipman, managing director at Safeland said: 'The expansion of the Safeland Active Management fund will increase our ability to acquire property with lower capital cost to the business.
‘The substantial investment by Babcock & Brown and the increased investment commitment by Electra Partners is a strong endorsement of their confidence in Safeland's ability to identify and manage investment properties and we believe that we are now well positioned to take advantage of the opportunities that will occur in this exciting and expanding sector.’