Ashen Capital makes debut corporate investment
Published by Green Street News on 16 Jan 2025 15:14 BST | written by May Agaran
Alex Price and Steven Wright’s new firm backs Sibner Investment Management
Wright (left) and Price have formed Ashen Capital
- What Ashen Capital is acquiring an interest of up to 20% in privately owned real estate firm and lender Sibner Investment Management
- Why Investment will support the firm’s growth ambitions and push to raise equity for new lending strategy
- What next Ashen, alongside Sibner, is providing a £20m seed commitment in Sibner IM’s planned residential development fund
Newly launched real estate investment firm Ashen Capital has made its debut corporate investment.
Ashen, which was founded last year by former Fiera duo Alex Price and Steven Wright, is taking an interest of up to 20% in Sibner Investment Management (Sibner IM), part of Sibner Group, run by managing director Wilfrid van Geest.
Ashen is providing seed capital into Sibner’s planned residential development fund, with a £20m commitment coming from both Ashen and Sibner Group. The fund will focus on senior development and bridging loans.
The vehicle will seek to deliver a net return of over 12% per annum, with a quarterly income of 1.75% as well as quarterly redemption and subscriptions. It is expected to launch in the first quarter.
Sibner is based in southwest London and provides senior secured loans to SME housebuilders across the UK.
The group was founded by siblings Tom Mackintosh, George Mackintosh, Mollie O’Gorman and Wilfrid van Geest from a family company established in the 1950s. Aside from property development, Sibner operates a rental portfolio and provides development and bridging finance to SMEs.
Sibner IM was created to leverage its parent company’s track record of senior debt origination and servicing, as well as raise and manage third party capital into a fund structure which will lend to SME housebuilders.
Wilfrid van Geest, managing director of Sibner Group, said: “Ashen’s involvement into Sibner IM is an important step as we continue to grow and improve our offering to clients. They bring a wealth of investment management, real estate and lending experience, that will help us give third parties access to the outstanding performance we have achieved ourselves over the last five years”.
Ashen Capital CEO Alex Price added: “Ashen’s mission is to help grow smaller property businesses by providing three separate strands of support: management expertise, co-investment and access to an institutional investor base. The investment into Sibner IM does this whilst also allowing us to partner with an exceptional team.”
Price and Wright worked together at Fiera Real Estate and Palmer Capital for 15 years, and joined forces to create Ashen Capital, which aims to provide venture capital backing to asset management and development companies.
The West End-based investor will typically take stakes of 15%-30% in asset managers and 25%-33% in developers. Ashen aims to be a “strategic investor” that will help provide start-up cash and build balance sheet capital to utilise alongside firms’ future joint venture partners.
