Praxis launches new £250m value-added fund, holds first close

U.K. regional property investor Praxis has successfully launched its new value-add fund having had a first closing in August, accepting subscriptions from both U.S. and European institutions. Praxis expects to deploy around £250 million ($325 million) over the course of the next 12 to 18 months.

The strategy of the new fund is fundamentally opportunity driven, combining rigorous market analysis with discerning stock selection of real estate with identifiable, but correctible, impairments to value.

Praxis is known as the proprietary investment vehicle for low-key Monaco-based property entrepreneur Mark Harrison, but the company has also invested on behalf of a number of private and institutional clients for several years. The launch of the fund signifies a new trajectory for Praxis, giving a broader range and number of third-party institutional clients access to the company’s investment and management platform.​