Investment Manager

Kenneth MacKenzie MA CA is the founder and Chief Executive of TFML. He is a Chartered Accountant with over 40 years of business leadership experience with the last 15 in healthcare.

In addition to his responsibilities as TFML’s chief executive, Kenneth leads the creation and management of TFML’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 joint venture 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 BAcc FCA is Head of Investment at TFML. He is a Chartered Accountant with over  20 years’ experience, the last 15 of which have been in real estate investment management.

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

Prior to joining TFML, 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 TFML. His primary responsibilities include inspecting properties owned by TFML’s client funds as well as prospective acquisitions during due diligence.

As part of this role he usually visits around 100 care homes a year. TFML’s in-house demographic and market analysis is performed by his team. Andrew has spent most of his life in the senior care sector.

Prior to his current role he and his family developed one of the largest and most unique continuing care retirement communities in the UK, Auchlochan Trust.

Andrew has played the role of developer, builder and operator of care homes resulting in a community of approximately 350 care beds, almost 100 retirement properties and a staff of over 300. These facilities included both residential care homes and nursing homes and Andrew was directly responsible for operations. Auchlochan Trust was also involved in Trinity Care plc as an investor.

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

Prior to joining TFML, Scott has been responsible for a number of Lloyds Bank’s lending to large property groups including care home operators. During 2018, Scott took over the Head of Asset Management role at TFML, and holds responsibility for tenant engagement and portfolio decision making with a team of healthcare and asset management professionals.

Gordon Bland BAcc CA is Finance Director at TFML. 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 BCom CA is Company Secretary and Director of Financial Reporting at TFML. He is a Chartered Accountant with more than 15 years’ 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 (now known as BMO 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 TFML in 2019, having provided similar services to the Group for over three years whilst working for Maitland Group, a third-party provider of corporate secretarial and administration services.