What Clearbell Capital does

Clearbell Capital is a UK-focused private equity real estate investment management firm founded in 2007 and headquartered in London. The firm operates as a Limited Liability Partnership (Clearbell Capital LLP) with its fund management entity authorised and regulated by the Financial Conduct Authority (Clearbell Fund Management). It has raised £1.8 billion across four discretionary funds (Clearbell Property Partners I–IV) and four separate account mandates, managing £3.4 billion of assets across the risk spectrum. Its capital base is institutional — pension funds, insurance companies, endowments, family offices, and charities — sourced and served through direct enterprise relationships rather than mass distribution.

The firm offers four product lines: thematic investments (sector-specific joint ventures, including the £250m Clearbell Logistics Platform with Deva Capital, an affordable student accommodation strategy targeting 10,000 beds, and a single family housing strategy targeting 1,000 properties); discretionary value-add funds (co-mingled vehicles with deal-specific co-investment rights); bespoke investments (tailor-made advisory and third-party asset management, exemplified by the Open-Ended Core Plus Mandate and the Long Term Endowment mandate); and advisory mandates for charities, endowments, and family offices. Active and historical vehicles span logistics (LOC8 Maidstone, the Clearbell-Deva platform), urban logistics (Cara Portfolio sold to Mileway in 2020), mixed-use (Mercury with Patron Capital, 2012–2016), hotel conversion (Tune Hotels with Queensway), senior residential debt (Monza with Blackstone/abrdn/Morgan Stanley, 2013–2020), life sciences (85 Gray's Inn Road), and heritage office (the Grade II listed Kodak Building). Reported realized performance includes 49% IRR / 2.1x on Mercury, 29% / 1.9x on Tune Hotels, 21% / 1.6x on Cara, 16% / 1.7x on Monza, and 310 bps of annual outperformance versus the MSCI benchmark on the Open-Ended Core Plus Mandate.

Clearbell earns revenue through three streams: recurring management fees on committed capital and assets under management across its four funds and four separate accounts; carried interest / performance fees on successful realizations; and advisory fees for bespoke mandates. The firm has approximately 30 employees covering partners, asset management, investment, finance, investor relations, operations, and sustainability, with a four-partner founding team that has worked together continuously since 2007. Technology is not a core component of the business model — the firm operates standard fund administration, an investor portal, and integrated ESG reporting (GRESB submissions since 2017, Planet Mark certification since 2023), but has no proprietary technology, AI, or platform infrastructure of note.

Name

Clearbell Capital

Legal name

Clearbell Capital LLP

Website

https://clearbell.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Clearbell Capital is a UK-focused private equity real estate investment manager (founded 2007) managing £3.4bn across four funds and four separate accounts, serving institutional investors, endowments, family offices, and charities via thematic, discretionary, and advisory mandates.

Ownership category

akta.pro rank

Product category

Real Estate Investment Management

NAICS

Other Investment Pools and Funds (5259), Other Financial Vehicles (525990), Miscellaneous Financial Investment Activities (523999), All Other Financial Investment Activities (52399)

SIC

Investors, Nec (6799), Investment Advice (6282), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Funds — Core-Plus (FSANAEAG)

akta.pro secondary industries

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Corporate Finance & Capital Advisory (BPAHADAB), Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)

Keywords

• Real estate investment management
• Private equity real estate
• Value-add real estate funds
• UK real estate advisory
• Institutional property investment

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management: Management fees from managing four funds (Clearbell Property Partners I-IV) and separate account mandates. Revenue generated through fund management charges, typically based on committed capital or assets under management.
2. Performance Fees / Carried Interest: Carried interest from successful fund exits and realizations. Examples include Mercury Portfolio (49% IRR, 2.1x), Tune Hotels (29% IRR, 1.9x), Cara Portfolio (21% IRR, 1.6x), Monza (16% IRR, 1.7x).
3. Advisory Services: Tailor-made advisory and third-party asset management services provided to clients including charities, endowments and family offices. Revenue generated through advisory fees.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Clearbell Capital is a FCA-authorised UK private equity real estate fund management and advisory firm. It invests in and manages UK real estate through four co-mingled value-add funds (Clearbell Property Partners I–IV) and four separate account mandates, covering thematic joint ventures (logistics, student accommodation, single family housing), discretionary value-add funds, bespoke advisory mandates, and discretionary account management for institutional investors, charities, endowments, and family offices.

Product overview

Clearbell Capital is a FCA-authorised private equity real estate fund management and advisory business offering a comprehensive suite of investment opportunities across the risk spectrum. The firm operates four distinct investment strategies: thematic investments (sector-specific joint ventures including logistics platforms, single family housing, and student accommodation), discretionary funds (value-add funds like Clearbell Property Partners I-IV with deal-specific co-investment), bespoke investments (tailor-made advisory and third-party asset management), and advisory services (covering charities, endowments, and family offices). Key products include the Clearbell Logistics Platform (targeting 1.5m sq ft UK logistics aggregator), LOC8 Maidstone (430,200 sq ft sustainable logistics development), Clearbell Single Family Housing (1,000 property thematic investment), and Clearbell Affordable Student Accommodation (10,000 bed PBSA platform). The firm has raised £1.8 billion from four funds and four separate accounts, managing £3.4bn in assets across the risk spectrum.

Differentiator

Problem solved

Functional benefit

Products and services

• Clearbell Logistics Platform UK logistics aggregator platform acquiring industrial and logistics assets below replacement cost with embedded rental growth and ESG-driven upgrades. Operated as a £250m joint venture with Deva Capital (Santander Alternative Investments) and runs across co-mingled fund vehicles (Clearbell Property Partners IV LP).
• Clearbell Single Family Housing
• Clearbell Affordable Student Accommodation Thematic investment platform for affordable UK purpose-built student accommodation (PBSA), targeting 10,000 beds by purchasing first and second generation stock at fractions of replacement cost, refurbishing it and letting to price-sensitive students.
• LOC8, Maidstone Highly sustainable multi-let logistics hub on a 49-acre site at Junction 8 M20, Maidstone, completed in two phases (2023 and 2024) totalling 430,200 sq ft across 18 units. Achieved EPC A and A+ ratings, 10% biodiversity net gain and won 'Best Overall Scheme - Multi-Let Industrial Estate' at the 2024 IAS Awards. Sold four units to Aberdeen for £43.89m in 2026.
• Grays Inn Road (85 Gray's Inn Road) Repositioning of 85 Gray's Inn Road from office into 29,000 sq ft of high-spec, lab-enabled space for the life sciences sector, located in London's Knowledge Quarter. Acquired in 2021 and held under a Clearbell discretionary vehicle.
• The Kodak Building Grade II listed office building at 70,000 sq ft originally built in 1911 as Kodak's European headquarters, acquired by Clearbell in 2019 and redeveloped into sustainable workspace achieving EPC A, BREEAM 'Excellent', WELL 'Gold' and WiredScore 'Platinum' certifications.
• Long Term Endowment Advisory Mandate Ongoing portfolio transformation advisory service for an established endowment client since 2018, providing portfolio evaluation, business plan development, asset disposals and ESG improvements. Has delivered a 9% premium on 45 asset sales, 32% industrial value increase and c.30% rental income increase.
• Clearbell Property Partners Co-mingled Value-Add Funds (I–IV) Series of four co-mingled UK real estate value-add funds (Clearbell Property Partners I–IV) with deal-specific co-investment, raised alongside four separate account mandates. Total equity raised across the four funds is £1.5bn and combined AUM is £3.4bn. Available to institutional investors, endowments, family offices and charities on individually negotiated terms.

Quantifiable outcome

• 49% IRR and 2.1x multiple on Mercury Portfolio (£200m JV)
• +11 more outcomes

Named customers21 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• QueenswaycoreStrategic or Co-development Partner · 1 January 2010Joint venture with Tune Hotel brand and Queensway for Tune Hotels strategy. Built portfolio to four trading hotels and three development sites providing 617 rooms. Concept was high-quality bed and shower in 10 sq m rooms at affordable price with internet-driven dynamic pricing. Generated 29% IRR and 1.9x multiple.

Scale indicators9 records

Recent moves12 records

Expansion highlights6 records

Market position

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/clearbell-capital-llp

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Clearbell Capital