Former Heron International managing director Peter Ferrari has launched Ashby Capital, an £1.5bn investment management vehicle targeting prime central London property.

The firm has launched with £1.5bn of funds to invest and is backed by private investors with whom Ashby Capital has an exclusive arrangement.

Ashby Capital said it will target “investment opportunities across the real estate risk spectrum but all will be in prime locations in central London with the potential to deliver strong income returns and capital appreciation”.

Investments will include offices, residential, retail and mixed-use. Investments in development opportunities will also form part of the strategy.

Prior to founding Ashby Capital, Ferrari spent nine years at listed property company London & Edinburgh Trust developing a range of projects across property sectors in the UK and throughout Continental Europe. In 1995, he joined Heron International as Director of Acquisitions and Development and was appointed Managing Director in 2009 working on many iconic projects including Heron Tower.

Ashby Capital chief executive Ferrari said:

“The opportunity to target, acquire and actively manage a significant portfolio of investments in prime Central London is extremely exciting. London is the world’s most actively traded property market there are many exciting opportunities.

“I expect to be in a position to announce our inaugural investment in the not too distant future and am confident that Ashby Capital’s name will be associated with many of the most exciting and prestigious investments in prime Central London over the coming months and years.”