Mitsubishi Buys Stake in Private Equity Real Estate Firm Patron
Mitsubishi Estate Co. has bought a majority stake in European private equity property fund manager Patron Capital, the latest sign of Japanese investment washing into the UK.
The Tokyo-based group's investment management business, Mitsubishi Estate Global Partners, is acquiring the stake from Patron's management led by founder Keith Breslauer, according to a statement Thursday. The deal will see Mitsubishi commit about €600 million ($686 million) of equity to Patron's funds to help it build out new strategies including its nascent credit business, it said.
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