D’Arcy departs from Ripley Asset Management
JULIAN D’Arcy has left his position at property investment fund Ripley Asset Management to launch Kirkby Capital.
Michael Hardman, the remaining partner at Ripley, said Mr D’Arcy’s departure was amicable.
Mr Hardman has become managing director of Longcross Property Investment Fund, following the departure of Mr D’Arcy.
Speaking to TheBusinessDesk.com, Mr D’Arcy said Kirkby Capital was being run with a number of joint venture partners and had generated investment funds across the world, including the Middle East.
Initially investments will be made inside the M25 corridor.
Mr D’Arcy, the former chairman of the northern region for Knight Frank, said he believed regions including Yorkshire would “bounce back”, but that there were more opportunities in London and the South East.
Kirkby Capital has made its first investment and Mr D’Arcy is also involved in a vehicle looking to invest in food retail developments.
He said Ripley was mainly focused on asset management while he was keen to get back into the property investment arena.
Investment company Longcross, managed by Harrogate-based Ripley Asset Management, specialises in the acquisition of commercial and residential property.
Mr Hardman, partner at Ripley Asset Management and former partner in Yorkshire Bank’s structured property finance team, said: “I am now assuming a more significant role within Longcross, following Julian’s departure, having created Ripley and its client base some three years ago I always said that we would review our respective positions after two trading years and Julian has decided to go it alone elsewhere.”
He said Longcross had a further £2m to invest after the group restructured its debt position.
He added: “The collapse in values in the property market over the last three years, coupled with the lack of finance in the market, means that there are opportunities to acquire commercial property at competitive prices.
“During the next six to 12 months I am aiming to increase our strong client base and grow the Longcross Property Investment Fund. We have the capabilities to grow and manage in-house assets to well in excess of £100m.”
