Belgium-based KBC Asset Management has completed the management buy-out of its London-based subsidiary KBC Asset Management UK, which will now be called KBCAM UK, with Simon Radford, CEO of KBCAM UK.

KBCAM UK is a property-specific asset manager specializing in direct and indirect

investment solutions for institutional investors seeking exposure to the real estate sector. It is a 100% subsidiary of KBC Asset Management, which is in turn a wholly owned subsidiary of the KBC group.

KBCAM UK has GBP755m assets under management. The 18 staff currently employed by KBCAM UK will remain with the newly created company, said KBC Asset Management.

Danny De Raymaeker, chairman of the board of directors of KBC Asset Management, said: “The decision to divest KBCAM UK fits within our group’s updated strategy. We are glad to have reached an agreement reflecting the quality of the company’s assets and we are confident the experience, business case and vision of Simon Radford and his team will ensure continuity and growth opportunities to KBCAM UK’s customers, staff and other stakeholders.”

Mr Radford said: “I am proud the KBCAM UK team will be able to continue to grow its successful franchise under the new name of Lothbury Investment Management Limited. We have been trading exceptionally well this year, notwithstanding the difficult market environment, and remain fully committed to further developing our business activities and serving our investors and clients.”