UK-focused social infrastructure real estate investment manager Newcore Capital has appointed Christine Milne, previously a managing director at global real estate fund manager Patrizia, as finance director.
Milne will be responsible for the oversight of Newcore’s financial reporting and accounting. Newcore, which was established in 2011, remains independent and wholly owned by its leadership team. The company is led by Chief Executive Officer Hugo Llewelyn and Chief Operating Officer Neil Sarkhel.
Milne brings over 15 years of combined real estate experience, including roles at asset and development manager MEPC and investment manager Patrizia. Prior to this, Milne spent 10 years at PwC. In her most recent position at Patrizia, Milne led a team of over 23 professionals in London within the Fund Services function, overseeing the financial accounting, reporting, transactions and tax compliance of real estate funds spanning across Europe.
Milne will be supported by Emma Brierley who was appointed as finance manager in August 2023, further strengthening the finance team with responsibility for Newcore’s clients and the financial management of managed funds.
Earlier this year, Newcore appointed Lucy MacEwan as an associate director in the investor relations team. MacEwan is responsible for the business’ investor relations and reporting, capital raising and will be involved in sustainability.
MacEwan spent five years as an investor relations and marketing manager at Savills Investment Management. During her time there, MacEwan worked on investor reporting, capital raising, oversight of the Fund’s quarterly dealing, sustainability and the ongoing marketing of the Fund.
Edmund Townsend and Alice Sykes-Waller joined in May and September respectively as investment managers and work to source and underwrite new investment opportunities on behalf of Newcore’s institutional and family office investors. In addition, both will carry out portfolio management work on Newcore’s separate accounts and fund series.
This year Newcore also hired fund analyst, Angkujan Sayandan, who will work on capital raising, debt origination, fund management, investor relations and investor reporting.
Bella Moore joined in January as a business and sustainability analyst and will work on sustainability and administration across the business.
The series of hires follow a final close in May for Newcore’s fifth value-add fund, Newcore Strategic Situations V, which raised £190 million, and the launch of its new core-plus vehicle, the Newcore Sustainable Income Trust, which is due to launch by the year end and is looking to raise £375m in equity.
Neil Sarkhel, COO at Newcore Capital commented: “Following the close of our fifth value-add fund and the launch of our new core-plus fund, we have dedicated a lot of time and effort into hiring a strong team that can support the expansion of the business. We hope the growth and development of our team serves as a real testament to what we will achieve going into the new year.”
Christine Milne, Finance Director at Newcore Capital, commented: “As a certified B corporation, Newcore Capital is a fund manager with a difference and its sustainable approach to capital management, combining low leverage with a governance-focused stance on fees and taxation, sees the business enter this new macro-cycle in a strong position. UK social infrastructure is an emerging but highly exciting asset class to be in, and I look forward to working with the wider team to help realise Newcore’s ambitious plans for 2024 and beyond.”
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