Palmer Capital has taken control of 100% of Middle Europe Investments (MEI), a Dutch-based fund manager with EUR 232 mln of assets under management in Central and Eastern Europe.
Palmer Capital has taken control of 100% of Middle Europe Investments (MEI), a Dutch-based fund manager with EUR 232 mln of assets under management in Central and Eastern Europe.
MEI, with local offices in several CEE countries, owns a portfolio of commercial assets spread across the Czech Republic, Slovakia, Bulgaria, Romania and Russia.
The acquisition provides Palmer Capital with an expanded European platform, increasing the present network of Palmer Capital offices in Germany and Czech Republic to include the Netherlands, Russia, Bulgaria and Romania.
MEI, headquartered in the Dutch city of Deventer, manages nine separate funds for Dutch investors all focused on Central and Eastern Europe. These funds and 25 staff from MEI will be incorporated into the Palmer Capital group.
'The acquisition opens new funding sources for us in the important Dutch market, gives us real depth in the fast-growing economies of CEE and brings some more very high-quality people into our team - it is an excellent fit for us and, we trust, for MEI,' said Guy Barker, managing director Europe for Palmer Capital.
Palmer Capital is a privately-owned company based in London and Munich which specialises in value-added properties. The company has funds under management of EUR 1 bn.
