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New property fund launches

A new property investment fund has launched, backed by the Buxton family.

Corsair Investment Management has been launched by MaxCap founding partner Michael Fowler and the Buxton family, which is responsible for property developing company Buxton Group.

Corsair will aim to build on the property development experience of the Buxton family.

Fowler will step into the chair position and former Westpac director and head of real estate Chris Moyle has been appointed chief investment officer.

Former Westpac property valuer Rob Alston has been appointed chief operating officer.

"In a complex and conservative lending market, our team's ability to identify and back strong projects is founded on deep sector experience and a track record of generating shared returns for investors," Corsair Investment Management director Stephen Buxton said.

"Our aim is to provide unparalleled levels of industry knowledge and guidance to both property investors and developers. We've established a diverse team of experienced leaders from both the property and finance sectors to support borrowers seeking alternative lending options and investors looking to manage risk in a volatile market."

Fowler said he thinks COVID-19 could present an opportunity for property investors.

"Guidelines implemented by APRA over the last few years, including increased liquidity restrictions, have accelerated the recognition of non-banks as viable market lenders. The subsequent outbreak of COVID-19 has placed further constraints on traditional lenders," Fowler said.

"Even in this volatile market, CIM partners with likeminded developers and investors to back valuable projects across Australia. We hope to instil a sense of confidence in our borrowers and investors, placing them in a leading position to further build upon their local portfolio."

Read more: Corsair Investment ManagementMichael FowlerBuxton GroupChris MoyleCIMRob AlstonStephen Buxton
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