GreenOak Real Estate has bought Grafton Advisors from UK property developer Quintain, owned by US private equity firm Lone Star.

Grafton will continue to operate as a standalone manager of central London real estate.

The firm has advised Schroder Real Estate’s West End of London Property Unit Trust.

Nigel Kempner, who set up the business last decade to advise GE Capital on the disposal of assets acquired with his previous firm, Benchmark, will remain managing director.

“We are looking forward to continuing to grow the portfolio and performance of WELPUT for its investors over the next few years,” said Kempner.

“This deal, post Brexit, shows London still holds the confidence of international investors.”

Ker Gilchrist and Christopher Cope keep their respective roles as property director and development director.

Lone Star, through its Bailey Acquisitions vehicle, bought Quintain in July last year for its Real Estate Fund IV, paying £700m ($1.09bn).

Fund IV, which closed in April last year with $5.8bn raised, funded most of the deal, with debt from third-party lenders.

Quintain bought Grafton in 2012.