Episode Details
Back to Episodes
Alex Price, Chief Executive at Ashen Capital - Character Matters More Than Skill When Backing a Founder
Description
Alex Price started his career as an officer in the British Army, moved into investment banking, did an MBA at London Business School, and joined Palmer Capital in 2003. At that point the business had three or four people, a balance sheet under £1m, no funds under management and three operating partners. Over 16 years he built it alongside founder Ray Palmer into a business with more than £1bn of assets under management, having raised over £1.5bn from the UK, US, Middle East and Asia, employing nearly 100 people across ten operating partners. They sold to Fiera Capital in 2019, and Alex went on to run the combined European business before leaving in 2023 to study a masters at King's College London.
He set up Ashen Capital in 2024 with Steven Wright, a colleague of 15 years, to invest in the people investing in property. They take minority stakes in UK operating businesses, providing up to £5m of working capital alongside advice, connections and experience. Two investments so far: a land promotion business and an investment management business doing senior secured construction loans.
His argument in this conversation is about what separates a real estate entrepreneur from any other kind. In most startups you risk a laptop, an office and your reputation. In real estate the numbers are staggering, so the downside is far larger relative to the upside, and that changes what investors look for. Alex backs character before skill set, because trust is what he's actually underwriting. He also never backs a solo founder, wanting two complementary people so one drives and one reduces risk.
He walks through the mindset, skill set and character he looks for, the six steps to launching a business from concept through to launch day, and why he'd put £500m into UK residential rather than commercial.
The People Property Place Podcast is powered by Art Capital & Yardi.
For more on Yardi, head to: https://hubs.li/Q04wHxlH0
For more on Art Capital, head to: https://www.art-capital.co.uk/
LIKE - SHARE - SUBSCRIBE
http://peoplepropertyplace.com/