UK: RHC Europe LLP, the legal entity which employs most of Round Hill Capital‘s UK staff, has been placed in liquidation as the company restructures in response to the slowing economy.
Begbies Traynor has been appointed to oversee the process which will result in 34 of the company’s 64 jobs coming under review.
Nido Student, Round Hill’s PBSA business, and its proptech investment arm Round Hill Ventures are not part of the review. The business operates in Europe, New York and Singapore, investing in residential, student and industrial property, and in development.
Modomo, an ESG-focused developer set up by the company was put into liquidation earlier this year.
A company statement said: “Having in recent years staffed the business for growth, we are now operating in a market that has shifted rapidly, which will predicate a period of slower activity. In response, we have for a number of months been undertaking an operational reorganisation process to ensure that we can optimally service the current platform, including our asset management and development JV partners, across our circa $6 billion global portfolio. This has been a difficult process, but is one that will enable us to remain resilient during this volatile period, and we retain a high conviction in our strategy.”
“The liquidation process forms part of this operational reorganisation and applies solely to RHC Europe LLP, the legal entity responsible for employing the majority of UK-based staff,” it added.
