Tilney adds more share classes to Acre

Tilney Investment Management, which acquired Thesis in late February, is to add euro and dollar share classes to its Acre property fund as part of its planned international marketing campaign to raise assets. The £22m Guernsey based Acre fund invests in UK commercial property and is a more heavily geared version of the £312m Glanmore fund. The Acre fund has two parts bank debt for each part equity raised from investors. Although technically closed-ended, the Dublin-listed funds can issue new shares and Acre is expected to increase assets before gearing to about £30m-£35m in the next 12 ...