Allied London, the London-based property developer, has undergone a £500m management buy-out backed by Royal Bank of Scotland and Delancey. Allied London specialises in city-centre development and regeneration and recent projects include Manchester's Spinningfields, Glasgow's Skypark and The Brunswick in London. The business was first taken private in 2000 through a management buy-out backed by JER Partners and Deutsche Bank. Michael Ingram, chief executive of Allied London commented: "The financing of the new management buy-out by RBS and Delancey, both highly successful corporate and real estate investors, is testament to the success of the business and the management team's abilities and established track record. Their support will enable us to capitalise further on the position we have developed in the past five years." The acquisition will be financed with a mixture of debt and equity, with RBS providing the debt.
