Conygar, the property company headed by veteran investor Robert Ware, has raised more than £60m through a share placing to acquire portfolios of property assets, including some from UK banks.

Conygar is in talks with a number of banks and institutions about working on their distressed loan portfolios, either injecting equity or managing portfolios on their behalf. It is also in talks with individual investors that need further equity owing to the fall in value of property assets.