Insight Investment, the fund management arm of UK bank HBOS with £67bn (€96bn) in assets, has acquired niche property manager Gatehouse Investment Management and appointed co-founder Duncan Owen as managing director of its property division.

Owen joins Insight along with the remaining four members of Gatehouse, including co-founder Philip Gadsden. Both were directors at property firm LaSalle Investment Management before leaving in 2001 to establish Gatehouse.