Kenmore pair launch $300m Gulf fund

TWO former directors of failed Edinburgh property group Kenmore have launched a $300 million (£199m) fund focused on investment in the Gulf regions.

By The Newsroom

Published 15th Mar 2010, 20:02 BST

Updated 15th Mar 2010, 20:06 BST

Andrew White and Will Hean, who led a management buy-out of Kenmore's Middle East assets in December, will target a range of properties in Saudi Arabia, Qatar and Abu Dhabi. The MBO was backed by London-based investor Matrix.

The fund, called Matrix Property Middle East, is a joint venture with ME Alignment, a Qatar-based property development and investment firm owned by members of the emirate's al-Attiyah family.