La Francaise takes stake in UK-based Forum Partners

French asset manager La Francaise has teamed up with UK-based Forum Partners in a bid to strengthen its international presence.

La Française, a subsidiary of French bank Crédit Mutuel Nord Europe with €37 bn of assets under management, has taken a 25% stake in the property investment specialist. Under the alliance, the partners will collaborate on a series of new European investment products, including a joint venture to develop European direct real estate products.

The move will allow Forum Partners to step up its operations in Europe at a time of growing opportunity in the region, CEO Russell Platt said. At the same time, Forum's pan-European reach will assist La Francaise in its efforts to expand abroad, president Xavier Lepine commented. 'We are already very large in French property, but want to have more of an international presence as well,' he said. 'We look forward to providing clients a complete and original range of real estate products and anticipate Forum will be a significant contributor to our international development.'

Platt noted that volatile markets and ongoing consolidation have presented 'extraordinary' growth opportunities for firms with the foresight and experience to recognise the occasion. 'La Française is well-known for its real estate expertise as well as innovative product development and distribution. This partnership will prove invaluable to Forum as we continue to expand our products and capabilities for our capital partners.'

The partnership will combine Forum’s global real estate private equity, debt and securities capabilities with La Française’s leadership in French direct real estate and senior debt. In support of this partnership, CMNE and La Française will allocate over $600 mln in capital across each of Forum’s principal investment strategies, beginning with over $200 mln to Forum’s European debt platform, including mezzanine and senior debt.

La Française will also commit capital to Forum’s global securities business, to its Asian private equity strategy and to potential expansion opportunities in the Americas. In addition, both Forum and La Française will gain access to the other party’s institutional and retail distribution network globally.

Founded by American-born Platt, Forum Partners is an independent global real estate investment management firm with €4.2 bn of capital committed and under advice. La Française has €6.7 bn of real estate assets under management.