Carlyle puts £150m into capital co-work

US private-equity giant Carlyle gave post-Brexit London a vote of confidence today with a £150 million pitch into the capital’s increasingly crowded “co-working” market.

Carlyle, one of the world’s biggest investment firms with nearly $180 billion (£141 billion) in assets, plans to establish business under the brand Uncommon.

It will be challenging the likes of rivals IWG, the former Regus, and more recent entrants into the market such as WeWork.

The buyout house, working with joint-venture partner Adir Group, has bought an existing business in Islington, to be rebranded under the new name, and two further offices in Borough and Fulham, giving the new business 1300 desks.

The backers hope to expand the Uncommon brand over the next two years in centres close to transport links, appealing to a range of customers including established businesses and start-ups looking for flexible office space.

Carlyle managing director Peter Stoll said: “As an emerging sector, we see the market for new concept working environments continuing to strengthen.”