Pradera has been backed by a family office shareholder that is taking a stake in the fund manager.
The retail park and shopping centre specialist said family office LJ Partnership agreed to buy a significant minority interest in Pradera.
Managing director David Fletcher said the investment should take the company into new segments of the retail market and, “over time, into new geographies”.
“It should help drive growth and allow us to further improve our service to clients and investors alike,” he said.
“With LJ Partnership’s largest shareholders being family offices/businesses from Hong Kong and Latin America, there is real potential for growth in regions previously untapped by Pradera.
“This will take the business into the family office market, supplementing but not competing with our historic strong institutional client base.”
Pradera, founded in 1999, has a €2.3bn portfolio of more than 50 shopping centres and retail parks in the UK, Spain, Italy, Greece, Germany, Poland, the Czech Republic and Turkey.
The company’s management team will retain full control of business strategy and the day-to-day running of the business.
Two senior directors from LJ Partnership will be appointed to the Pradera board, supplementing the current management team.
Andrew Williams, chief executive at LJ Partnership, said the deal, expected to close soon, would broaden and deepen the company’s European platform, enhancing its local presence in major European markets.
“(It) enables us to bring a broader range of investment opportunities to the select group of individuals and families we represent,” he said.
LJ Partnership looks after the interests and investments of family offices, foundations and charities.
It has a privately owned real estate investment platform, advising on a $4bn (€3.5bn) property portfolio.
