Hermes to manage X-Leisure fund
Fund manager Hermes has been appointed to manage Capital & Regional’s X-Leisure fund.
X-Leisure, Capital and Regional’s leisure property arm, operates the X.Space leisure parks and Xscape snow and entertainment centres.
Headed up by chief executive, PY Gerbeau, X-Leisure will be asset manager for the fund, while Hermes will be fund manager. It will have a 15-year life with an option to extend for a further five years.
The X-Leisure Fund is a combination of three existing funds, which were previously managed by Marylebone Warwick Balfour Group (MWB).
Rupert Clarke, head of property for Hermes, said: “We were a founder investor in the establishment of the original funds and are well placed to offer dedicated expertise to drive the performance of the X-Leisure fund in the future, working alongside Capital & Regional.”
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