Real estate investor Mel Sutcliffe's Quanta Capital is aiming to double its assets under management to more than €1 billion within the next 12 months following the appointment of former AIB chief executive Michael Buckley as its chairman. Linda Hickey, a former director of corporate broking at Goodbody Stockbrokers, has also joined the company's advisory board as a non-executive director.
Quanta’s existing portfolio includes 3 million sq ft of logistics assets, making it one of the largest such investors in Ireland, and 46,450sq m (500,000sq ft) of office space across Dublin, Cork and Galway .
News of the appointments, and of Quanta's plan to double the overall value of its property portfolio, follows the company's recent acquisition of several prime properties in Dublin. The most significant of those saw Quanta secure ownership of the landmark Shelbourne House in Ballsbridge in a €40 million off-market purchase.
While the company's investments have, to date, focused on the Irish market, it is now exploring opportunities in the UK and Spanish markets through offices in London and Madrid. Quanta is backed by Fairfield Real Estate Finance and its US-headquartered backers, Oaktree Capital Management.
Commenting on the appointments of Mr Buckley and Ms Hickey, Mr Sutcliffe, said: “Their track record with both private and publicly-quoted companies will support the future growth of Quanta’s acquisitions, and will be complementary to the exceptionally-experienced team that already exists within our company.”
Mr Buckley said: “I am impressed by the track record of Mel and his team, who have exciting plans to grow to €1 billion-plus portfolio over the next 12 months. I am confident that they will continue to deliver on their impressive track record of returns through a disciplined investment process that is quick to react to market opportunities.”
Mr Buckley served as chief executive of AIB from 2001 to 2005 and currently acts as an adviser to a number of Irish-owned companies. He is also on the board of the Bon Secours Hospital Group and is chairman of KKR Alternative Investment Managers and of KKR Credit Advisers (Ireland).
Ms Hickey currently serves as a non-executive director of both building materials group Kingspan and listed Irish housebuilder Cairn Homes, and is chair of the The Irish Blood Transfusion Service.