BARWOOD Capital, the Northampton-based regional property specialist, has strengthened its board as it prepares for its next fund launches.
Hugh Elrington is appointed to the position of Managing Director, Jo Greenslade will focus exclusively on her role as Director of Strategy and Funding and a new chief Financial Officer has been appointed and will be announced at the end of March. Guy Brogden will continue to support the business as Executive Chairman.
Founder Jo Greenslade will continue to play a key role in the business with responsibility for Barwood Capital's corporate vision and strategic direction whilst maintaining and developing strong relationships with the company's investors and partners.
Following his successful first year with Barwood Capital as Head of Property, Hugh Elrington will take over the day-to-day operations from Jo Greenslade, bringing a wealth of property industry knowledge from both his current and previous commercial positions to the role of Managing Director. Hugh, who has 30 years' experience, joined Barwood Capital in April 2018 after spending nine years at Rockspring Property Investment Managers LLP as head of UK transactions. At Rockspring, he successfully built-up and led a strong transactional team to cover both acquisitions and sales on behalf of its discretionary and non-discretionary clients, averaging some £500 million of transactions each year.
As Managing Director, Hugh will focus on all revenue generating activities, developing and delivering Barwood Capital's property and funding strategies to significantly increase the company's assets under management and help drive the business' strategic growth and direction.
As a founder of Barwood Capital in 2009 and managing director since January 2015, Jo Greenslade has led a period of outstanding results and growth for both the company and investors through its UK regional property funds.
Over the last four years, assets under management have almost tripled to some £300m whilst the company has maintained strong double digit returns to its investors. In the last year, Barwood Capital has delivered a 16 per cent IRR to investors in its 2012 Regional Property Fund and its fourth fund, raised mainly in 2017, is now on track to invest in around £200m of assets, including four development sites in joint venture with British Airways Pension Trustees Limited. The company is speculatively developing over 740,000 square feet of logistics space across five sites in Bedford, Bristol, Crawley and West Yorkshire, complemented by multi-let industrial, residential and care home portfolios.
Guy Brogden, as executive chairman, will continue to provide guidance and oversight, with a particular focus on large property deals, key investors and the promotion of Barwood Capital within the UK's property community.
Jo Greenslade said: "At Barwood Capital our people are our greatest asset and we take real pride in our performance, delivering impressive returns to our investors in the right way. During the last four years we have achieved outstanding growth and I am delighted that Hugh has agreed to lead the team in delivering our next ambitious phase of growth, allowing me to focus on our corporate vision and strategy and on developing strong relationships with existing and new investors and partners. While we operate in an industry where figures are the bottom line, we believe it is the people that make the real difference."
Hugh Elrington added: "I am thrilled to have been appointed Managing Director and very much look forward to continuing to work with both Jo and Guy in driving forward the growth and direction of the business over what will be another exciting phase for Barwood Capital. I am also delighted to be working with such a fantastic team of people alongside our investors and partners."
Barwood Capital's other board members are: Alan Rudge, Steve Chambers, Ed Henson, and Andrew Barlow.
Future fund launches will be announced shortly.
For further information, visit www.barwoodcapital.co.uk