Property company Almacantar has raised EUR 150 mln in its first closing. This includes EUR 100 mln invested by Exor, the investment arm of the Italian Agnelli family. The agreement between the parties foresees Exor investing an additional EUR 50 mln when Almacantar raises further equity from new shareholders.
Property company Almacantar has raised EUR 150 mln in its first closing. This includes EUR 100 mln invested by Exor, the investment arm of the Italian Agnelli family. The agreement between the parties foresees Exor investing an additional EUR 50 mln when Almacantar raises further equity from new shareholders.
Almacantar was founded recently by Mike Hussey, the former London chief of Land Securities and Neil Jones, at former Continental European director at Grosvenor.The firm has EUR 300 mln, including debt, to invest in operational properties and developments in the London and Paris office markets. The focus will be on large-scale opportunities.
Skadden, Arps, Slate, Meagher & Flom advised Almacantar on the transaction.
Listed on the Italian stock exchange, Exor has a net asset value of EUR 5.9 bn and is headquartered in Turin.