Jean-Baptiste Pracca and Laurent Delautre, two former executives at Primonial REIM, have announced the launch of a new independent asset management company for French and international institutional investors.
Jean-Baptiste Pracca and Laurent Delautre, two former executives at Primonial REIM, have announced the launch of a new independent asset management company for French and international institutional investors.
The business, named Mata Capital, represents a joint venture with Primonial REIM and will focus on fund structuring and management, investment and asset management for third parties.
It will have a value-add risk profile, therefore completing Primonial REIM's core offering, the company said in a statement.
'We aim to manage between €500 mln and €1 bn over the next five years,' said Jean-Baptiste Pracca, the business' co-founder and managing director. Pracca joined Primonail REIM in 2011 as head of acquisitions and asset management.
The first fund is expected to be operational from early November, with around €50 mln of acquisitions planned to be completed by the end of the year.
