F&C Reit is launching the Devonshire UK Opportunities fund, its first new vehicle since forming last year.
F&C Reit is targeting £300m for the launch and aims to offer 20% returns over seven years. It will be managed by Reit Asset Management founder Leo Noe.
The company was established from the merger of Reit Asset Management and F&C Property.
Noe says: "The launch of the fund clearly shows the strong position that F&C Reit is in to take advantage of the current state of the property market; in being able to identify and target opportunities across a variety of sectors that have arisen through distressed assets sales."
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