Madison International Realty and GCM Grosvenor have acquired minority interests in European residential real estate firm Matter Real Estate from existing investor Black Lion.
While the financial terms and stake details were not disclosed, Matter Real Estate said that the ownership of its management shares remains unchanged.
The latest investment strengthens GCM Grosvenor’s relationship with Matter Real Estate, building on the firm’s previous investments in Matter Real Estate’s residential platforms.
Madison International Realty has also committed to co-invest alongside Matter Real Estate into opportunities in Denmark, Sweden, Germany and the UK.
David Christie, CEO at Matter Real Estate, said: “We are delighted to welcome Madison International Realty as a strategic like-minded partner, and to build on years of collaboration and shared vision with GCM Grosvenor.
“This partnership reflects the strength of our platform and the trust placed in us by early supporters of the firm, notably Black Lion.”
Mo Saraiya, deputy CIO and head of platform investments, at Madison Realty International, said: “This transaction not only allows us to make a strategic investment in a first-class real estate investment manager, it also presents us with an opportunity to co-invest alongside Matter in building businesses in a number of our core European territories.”
Bryce Robertson, executive director at GCM Grosvenor, said: “Our partnership with David and the wider Matter team has been a cornerstone of our commitment to growing our presence in the institutional European real estate market. We believe Matter’s expertise and market position sets them up well in the current investment environment.
“Bringing Madison into the fold only strengthens that position; we’re looking forward to continuing to collectively build a leading pan-European residential player.”
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