yield + infrastructure property fund
EG Funds Management proposes the establishment of an unlisted property trust to be known as the Yield + Infrastructure Property Fund ("the Y+I Fund").
The Y+I Fund has secured aggregate capital commitments of $240 million from a select number of institutional investors. The Fund aims to acquire a portfolio of yield-producing real estate assets in areas considered by the Manager as likely to benefit from urban renewal and/or the construction of new transport and community infrastructure by 2012.
The Fund's objective is to provide investors ("the Investors") with an ongoing annual cash yield of approximately 5.0% and an annual compound return on equity exceeding 18% per annum, net of Manager's fees and Fund level expenses.
east london property trust
EG Funds Management proposes the establishment of an unlisted real estate investment trust to be known as the East London Property Fund.
The East London Fund will target aggregate capital commitments of £60 million from a limited number of institutional investors
The East London Fund aims to acquire a diversified portfolio of real estate investments in areas considered by the Manager as likely to benefit from urban renewal and/or intensification of land-use arising from the implementation of the London Plan and the construction of new transport and social infrastructure (principally in East London) due for completion by 2010.
The Fund's objective is to provide investors (the "Investors") with an internal rate of return on equity exceeding 17% per annum, net of Manager's fees and Fund level expenses.
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