Sanlam in Isle of Man joint venture

3/8/2010 12:40:02 PM

FINANCIAL services group Sanlam has entered into a joint venture to form a new Isle of Man-based European property investment advisory and management company, Exclusive Holdings.

EDWARD WEST

The deal is a partnership with the Mertech and Attventure groups in SA and Salt Properties on the Isle of Man. It brings to four the number of international deals struck by Sanlam International Investment Partners (SIIP) in 18 months.

“Notwithstanding its inherent attractions, the European property market is particularly attractive right now because of the quality of direct property investment opportunities that are available to investors,” said SIIP MD Hendrik Pfaff.

Investors would be able to acquire properties with tenants as a result of the current market dislocation.

He said the partnership was in line with the Sanlam Group’s aim of expanding its global asset management footprint through direct investment in specialist investment management businesses.

Exclusive would deliver investment advisory and management services in direct property investments — with a focus on commercial property — in the UK, Switzerland and Germany.

The joint venture would operate via a subsidiary, MAS Property Advisors. The company is headed by MD Lukas Nakos, a property expert with extensive experience in the UK and Europe.

Pfaff said: “I am delighted we partnered with the principals of Mertech and Attventure, whose expertise and continued participation in (SA’s) Atterbury Property Group has now been successfully extended to the UK, where they joined forces with Salt Properties in launching MAS, a property investment company listed in Luxembourg and Johannesburg.

“We look forward to working with them to develop a range of direct property investment management interests under the holding company Exclusive.”