Tracy joined Caisson as a consultant in September 2017 and heads up the equity raising activities within the Private Funds Group. During his career to date he has been personally involved in sourcing equity for over £2.0 billion of real estate transactions.
Tracy began his career with Johnson Fry in 1987. At the age of 27 he became a main board director with responsibility for both its real estate activities and its intermediary distribution. The success of the real estate side led to a formal joint venture with Richard Ellis (now CBRE). In total nearly £400 million of commercial real estate was successfully funded across the UK in Enterprise Zones.
In 1998 Tracy established Pinder Fry & Benjamin with two colleagues from Johnson Fry. The firm quickly earned a reputation for delivering syndicated investments in secure UK based commercial property let on long leases to institutional grade tenants. In a little over ten years nearly £1.0 billion of property was acquired. Tracy with his team was responsible in raising the capital for each project eventually sourcing in total nearly £200 million of equity.
In 2011 Tracy was a founding partner of Osprey Equity Partners with two colleagues from Pinder Fry & Benjamin. Osprey is a 50/50 joint venture with L J Capital, a multi-family office with a substantial real estate platform both in the UK and mainland Europe.
Osprey’s investment approach was to forward fund institutional grade commercial property which was pre let to investment grade tenants on leases of 20 years or more, with index-linked rent reviews. Over £600 million of investment was funded mainly in the commercial real estate sector spread over 21 funds.
Tracy’s primary role saw him continue to cultivate his long standing relationships with UK regulated financial advisers and other sources of capital to fund the pipeline of transactions with tenants such as Tesco’s, Sainsbury’s, Premier Inn, Holland & Barrett and Aldi, amongst many others. He introduced over £100 million of equity to Osprey Funds/Projects.
He joins Caisson with the objective of harnessing the knowledge and contacts he has built over the last 30 years or so, to help originate new income and growth investments for his intermediary clients to invest in, whilst also supporting the growth of the Group’s core business in the Multi-let Industrial (“MLI”) sector to family offices and other wealth platforms.