Investment Manager

Kenneth MacKenzie is the founder and Chief Executive of Target. He is a Chartered Accountant with over 40 years of business leadership experience with the last 18 in healthcare.

In addition to his responsibilities as Target’s chief executive, Kenneth leads the creation and management of Target’s client funds and oversees fundraising and investor liaison for the Group. In 2005, he led the acquisition of Independent Living Services (‘ILS’), Scotland’s largest independent domiciliary care provider.

Kenneth grew this business by acquisition and put in place a new senior management team before exiting via a disposal to a private equity house. Prior to his involvement with ILS, Kenneth negotiated the proposed acquisition of a UK independent living business in a JV with the large US care home operator, Sunrise Senior Living.

Prior to his involvement in the healthcare sector, Kenneth has owned businesses in the publishing, IT, shipping and accountancy sectors and he holds a number of pro-bono charitable roles.

John Flannelly is Head of Investment at Target. He is a Chartered Accountant with over 20 years’ experience, the last eighteen of which have been in real estate investment management.

He has primary responsibility for investment activity across the Target business. John has been involved in the appraisal of several hundred care home opportunities resulting in the acquisition of more than 100 properties for those client funds.

Prior to joining Target, during his time as investment director for an institutional investor, John held board positions at a UK top-10 care home operator and a care home development business.

John started his career at Arthur Andersen where he worked on audits, financial due diligence and corporate finance projects before moving to the Bank of Scotland initially to structure finance packages for management buy-outs and latterly to a role in real estate investment management.

Andrew Brown is Head of Healthcare at Target. Andrew keeps the wider team up to date on sector news and analysis, having a unique knowledge acquired over his lifetime, having been active in the senior care sector
since the 1970’s.

His primary responsibilities include utilising this extensive knowledge to support the Asset Management team on tenant relations and the oversight of existing properties, as well as the Investment team during due diligence on prospective acquisitions.

Prior to joining Target at its inception, he and his family developed one of the UK’s largest and most unique continuing care retirement communities, now known as Auchlochan Garden Village.

Andrew takes a keen interest in care architecture and can often be found poring over a set of plans.

Scott Steven is Head of Asset Management at Target. Scott joined Target in 2017 from Lloyds Banking Group.

Prior to joining Target, Scott had been responsible for a portfolio of Lloyds Banking Group’s loans to large property groups, including care home owners and operators. During 2018, Scott was appointed as the Head of Asset Management at Target, and holds responsibility for tenant engagement and portfolio decision-making with a team of healthcare and asset management professionals.

James MacKenzie is Head of Investor Relations at Target. He joined in January 2025 from Aegon UK where he had been General Counsel and Company Secretary for 12 years.

James leads Target’s investor relations function, with a particular focus on growing and broadening its capital partner base across both existing and new strategies, supporting the future shape and direction of the business.

He has over 20 years of corporate advisory, relationship management and corporate governance experience. As well as working at Aegon UK he has experience from working at other blue chip financial services companies including Alliance Trust Equity Partners and F&C Asset Management.

At Aegon UK, James provided strategic legal counsel to the Board and played a key role in driving and supporting major business change programmes, including the acquisition of BlackRock’s Defined Contribution pensions administration business and the acquisition of Cofunds. He was also Executive lead for Sustainability for Aegon UK. He is a qualified solicitor.

Gordon Bland is Finance Director at Target. He is a Chartered Accountant with extensive experience of financial reporting within the asset management industry.

He provides financial input to the strategic and commercial activities of the senior team, and leads the finance function where his key responsibilities include: financial planning and analysis; risk management; ownership of relationships with debt providers, treasury services; and financial reporting to shareholders.

Gordon previously worked at PricewaterhouseCoopers for almost ten years, serving asset management and financial services clients in the UK, Canada and Australia.

Donald Cameron is Company Secretary and Director of Financial Reporting at Target. He is a Chartered Accountant with more than 20 years of experience of financial reporting and company secretarial services within the closed-ended investment company sector.

Having originally qualified with Deloitte LLP, he then worked for over ten years in the Investment Trust Company Secretarial team at F&C Asset Management, acting for both property and equity investment companies.

He is responsible for providing company secretarial services to the Board and for statutory financial reporting. He joined Target in 2019, having provided similar services to the Group for over three years whilst working for Maitland Group, a thirdparty provider of corporate secretarial and administration services.