Ex-EdenTree fund manager Ketan Patel has set up a family office with his brother, offering exposure to real estate, global equities and high yield investments via three strategies, all with a responsible and sustainable investment approach.
After 20 years at EdenTree, Patel left the firm earlier this year amid a restructuring of the portfolio management team. He was responsible for the £100m EdenTree Responsible and Sustainable UK Equity and the £106m EdenTree Responsible and Sustainable UK Equity Opportunities funds at the time.
Read Ketan Patel’s columns for PA Future.
Now Patel has set up his new venture, Whitefriars, named after the street where his father bought their first family home.
He is running the business with his brother, Dilesh Patel, and they have been investing in London property together for the past 25 years. They currently have between £10m and £20m in assets under management.
Ketan Patel told PA Future about the strategies: “There are three main strategies the family office offers; direct real estate, which is investing in property, primarily residential. The second strategy is exposed to global equities and the third is high yield.
“The high yield strategy is probably the most interesting because it is a blend of equities, fixed income, particularly around perpetual subordinate instruments which are unique to the UK, and there will also be some alternatives exposure to areas such as infrastructure.”
When asked about the responsible investment approach, Patel explained he will focus on making sure the properties in the real estate portfolio are carbon neutral.
“We will look at solar panels, correct insulation, the sourcing of materials, understanding green buildings regulation, ensure gas and electrics are up to scratch, tripe glazing, LED lighting, smart meters… We will go through all these considerations.”
Patel added he will also be working with former colleague Neville White, who was head of responsible investment at EdenTree, and now works as a senior adviser at the recently set up Trinity Communications.
The strategies will be run on a family office basis initially and the team will consider opening up to other investors after a three year track record has been built.
