Investment Management

Investment Adviser

Impact Health Partners LLP is our Investment Adviser. Its role includes sourcing investments for us, reviewing all opportunities and making recommendations to the board, carrying out transactions that the board approves, and monitoring the progress of our assets. It is also responsible for devising and implementing our asset management strategy. The Investment Adviser was established by Mahesh Patel and Andrew Cowley. David Yaldron was appointed its Finance Director in June, further strengthening its senior team.

Mahesh Patel
Mahesh Patel is a qualified accountant who has over 30 years’ experience in healthcare related assets, including positions in finance and other healthcare related industries including dental, prosthetics and children’s nurseries.

He has previously built up three healthcare related businesses, Highclear and Kingsclear (which focussed on residential care for the elderly) and a supported living business, Independent Living Group. He exited each of these business in the period between1996 and 2006, selling Highclear to an entity backed by Electra Partners. In addition he is also a [co-founder and director] of Precision Dental, which invests in dental laboratories.

Mr Patel has helped found and grow the Minster and Croftwood elderly residential healthcare groups, along with Pathways Care Group, which provides specialist support to those with learning disabilities, mental health disorders and physical disabilities.

Andrew Cowley
Andrew Cowley is an experienced fund manager, who has been investing in infrastructure and private equity since 2000. During that time he has served as a senior managing director at Macquarie and deputy chief executive of the AUS$6 billion Macquarie Airports, which was listed on the Australian Stock Exchange. Prior to joining Macquarie, Mr Cowley was a Managing Director at Allianz Alternative Assets and was responsible for €6.5 billion of Allianz Group’s investments in alternative assets and initiated Allianz's investment into infrastructure.

Mr Cowley has also advised on successful investments in the UK care home sector. Prior to joining Allianz, Mr Cowley was a director of Kleinwort Benson Limited

and chairman of Dresdner Kleinwort Benson's business in Russia. He began his financial services career at SG Warburg and Co Limited.

Mr Cowley has served on numerous company boards, including those of the airports in Bristol, Brussels, Copenhagen and Rome, Moto Holdings Limited, Creative Broadcast Services Ltd and as chairman of Halterm Container Terminal Limited in Canada. He has an MA in History from Magdalen College, Oxford.

David Yaldron, FCA
David is a Chartered Accountant, having trained at KPMG, and has over 20 years’ experience having held senior financial roles at real estate and investment companies.

Most recently, David was a Director at Grosvenor, Britain & Ireland (Grosvenor). David joined Grosvenor in 2012 as a senior member of the finance team responsible for Projects and New Investments. David subsequently took increasing responsibility for Grosvenor’s investment’s outside of its core portfolio in London, finishing as the senior Director of Grosvenor Developments responsible for all Grosvenor’s Investments, Developments and Strategic Land activities outside of London, with a peak gross investment and development value in excess of £2 billion.

Prior to joining Grosvenor, David worked for Europa Capital managing its corporate investments and divestments across Europe and prior to this was Head of Investment Monitoring at Coller Capital.

David began and spent the first ten years of his career at KPMG where he qualified as a chartered accountant and gained experience on a wide variety of transactions for a range of high profile clients within the Transaction Services team.

Investment Manager

Carne Global AIFM Solutions (C.I.) Limited is our Investment Manager and AIFM and is authorised and regulated by the Jersey Financial Services Commission. The Investment Manager was established in 2014 and is headquartered in Jersey. It is part of the Carne Global Financial Services group which provides fund management, oversight and directorship services for over US$400 billion of assets under management. Carne Global Financial Services Limited was established in 2004 and is headquartered in Dublin.