ILIM Property Fund, part of Irish Life Investment Managers, has bought stakes in two Rockspring real estate funds from Percy Nominees, a nominee of Prescient Investment Managers, according to a UK regulatory filing.
ILIM, the investment management company within Irish Life Assurance, bought stakes in Rockspring Peripheral Europe as well as in Rockspring PanEuropean Property, and became a limited partner in the funds. ILIM is an investor in Irish real estate with property funds under management in excess of €2 billion.
The funds that ILIM purchased are managed by London-based Rockspring Property Investment Managers, a property investment fund manager focused on European property investments.
Rockspring declined to comment. ILIM and Prescient Investment Managers didn’t return requests for comment.
Prescient Investment Managers used to be called Allied Irish Banks Investment Managers prior to its sale by AIB Group in 2012. In November 2013, Davy acquired Prescient Asset Management Holdings, including its investment management and fund management subsidiary companies.