Infinity Asset Management, the Manchester-based private equity house, is set to build on its growing reputation with the establishment of a multi million pound property fund.

Infinity, which launched in February 2007, has appointed one of the region’s most pioneering property specialists to head up the new venture, the first of its kind in the North West. Les Lang, 49, is a former managing director and founder of multi-award winning residential development company Abito, a subsidiary of commercial property specialist Ask Developments. He joined Infinity on 1 January 2008.

Lang will be responsible for managing the fund, which will target £100,000,000 of residential and commercial developments with a value of between £5,000,000 and £25,000,000. The focus will be exclusively on innovative projects, with a strong emphasis on regeneration areas in city centres across the country, particularly those undergoing significant change.

A surveyor by profession, Lang launched Abito in 2004 within the Ask Development Group, to create compact living solutions in urban areas for first time buyers, young professionals and key workers.

Daniel Finestein, managing partner at Infinity, said: “Les has a wealth of experience across the property sector and will bring a unique strategic perspective to the venture.” The move will reunite Finestein and Lang, who were colleagues at accountancy firm Levy Gee.

Finestein commented: “The property fund will undertake both development and investment projects, with a real commitment to innovation and sustainability, whether that’s in the method of building or design.

“There is a natural synergy between Infinity’s core activity and the innovative solutions which Les championed at Abito. His visionary approach and extensive knowledge across a range of property sectors, together with our significant financial expertise, will ensure the team is able to move quickly and decisively in capturing first class business opportunities. I really can’t think of a single person more perfectly suited to take on this role.”

Lang, who scooped last year’s Insider Residential Developer of the Year with Abito, said: “Infinity is a hugely dynamic company, which is on course to become one of the premier private equity houses in the North West. The opportunity to join forces with Daniel and take an active lead in some of the most exciting developments in the country was simply too good to miss.”
Infinity’s three founder partners, Daniel Finestein, Sarah Butler and Phil Vickers, each quit high profile jobs to launch the company. Lang’s appointment brings the expanding Infinity team to ten people.