Mitsubishi Estate Co’s (MEC) global real estate investment management platform is acquiring a majority stake in pan-European investment manager Patron Capital and committing €600m in equity to Patron’s funds.
Mitsubishi Estate Global Partners is acquiring the undisclosed majority stake as well as providing the capital to Patron’s funds, including financing for new subsector strategies like real estate credit.
Mitsubishi Estate, one of the largest real estate groups in Japan, already owns pan-European real estate fund manager Europa.
Patron is focused on strategic growth areas within private European real estate markets, including opportunistic investments. The manager’s funds are known for distressed and undervalued property-related investments throughout Western Europe.
Keith Breslauer, Patron’s founder and managing director, and the team of senior partners will continue to manage Patron’s operations and lead the business for the long term, retaining a significant minority equity stake.
Breslauer, managing partner and founder of Patron Capital, said: “This significant investment from MEC, particularly as a leading property investor and developer, is a strong endorsement of our success and is the next step in our predefined growth plan to take the business to the next level and position it for sustainable, long-term growth.
“MEC has an exceptional history spanning over 130 years as a real estate developer and investor with a long-term strategic vision, goals and objectives that are aligned with ours in every way.
“From a focus on social impact and serving communities, to supporting people to create an entrepreneurial culture, and responding quickly to changing investment contexts, these are two organisations with shared values and proven longevity that have been built on the same approach.”
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