Latest news with #PatronCapital
Japan Times
2 days ago
- Business
- Japan Times
Mitsubishi buys stake in private equity real estate firm Patron
Mitsubishi Estate has bought a majority stake in European private equity property fund manager Patron Capital, the latest sign of Japanese investment washing into the U.K. 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 (¥99.5 billion) of equity to Patron's funds to help it build out new strategies including its nascent credit business, it said. It is the latest example of European private equity real estate platforms being snapped up by larger global investors as their founders ponder succession and grapple with a regulatory landscape that can make it harder for small firms to compete. New York Life Insurance's Candriam Group took control of Tristan Capital Partners in 2023 while Aermont Capital sold a stake to Singapore-based Keppel Capital Holdings. "I'm not going anywhere,' Breslauer said in an interview. "We are getting a very large check and backing from a very long-term, strategic-thinking partner.' A team of senior partners led by him will continue to manage Patron's operations, according to the statement. Japanese investors have been snapping up a series of overseas investment firms in recent months, particularly those focused on alternative assets. Last month, insurer Dai-ichi Life Holdings announced plans to boost its stake in hedge fund manager Capula Investment Management and acquire a 15% interest in M&G. They have also been active buyers of U.K. real estate with Sotetsu Urban Creates and Yasuda Real Estate acquiring an interest in Deutsche Bank's U.K. headquarters and Nomura Real Estate Development forming a venture to build rental housing. Breslauer, a former Lehman Brothers banker, founded Patron in 1999 and built the business into a pan-European investment manager with about €5.3 billion of capital, including an almost €1 billion fund it raised last year. The firm had two Japanese investors in its most recent fund — a number Patron will aim to grow with the next vehicle that's likely to raise capital later this year. Mitsubishi is one of Japan's largest property companies and the firm has been growing its investment management business, which in the U.S. includes TA Realty. The firm now oversees about $39 billion, according to its website. "I had over 60 approaches,' Breslauer said. "I really wanted to be part of a group that was in the property business, not an insurance company.'
National Post
3 days ago
- Business
- National Post
Patron Capital Secures Major Investment From Mitsubishi Estate to Accelerate European Growth and Expand Into New Subsectors
Article content LONDON — Patron Capital ('Patron'), the pan-European institutional investor focused on property-backed investments, has secured a major investment from Mitsubishi Estate Co., Ltd. ('MEC'), through its Mitsubishi Estate Global Partners ('MEGP') investment management business. MEGP is purchasing a majority stake in Patron, as well as providing €600 million in the form of equity commitments to Patron's funds and financing for new subsector strategies including real estate credit. Article content In Patron's most recent fund launched in 2024, approximately 11% of the €964 million of capital raised came from Canadian investors, including pension funds, endowments, foundations and family offices. Article content The transaction, which is subject to regulatory consents, is part of a long-term strategic growth plan for Patron, providing new institutional backing and positioning the business positively for sustainable growth well into the future. Keith Breslauer, Patron's founder and managing director, and the team of senior partners will continue to manage Patron's operations and lead the business for the long term, retaining a significant minority equity stake. Article content As well as new capital for growth, MEC's investment will provide Patron with access to a broader pool of investors through MEGP and support the expansion of Patron's fund and product offerings while continuing to nurture its entrepreneurial culture. Patron is targeting strategic growth areas across private European real estate markets, including in the opportunistic investing space, where it has a 26-year track record, as well as across multiple new subsectors and asset classes where recent market adjustments and structural macroeconomic trends are presenting compelling new long-term risk-adjusted opportunities. Patron's experienced senior management team and operational expertise, combined with MEC's support, enable Patron to identify and deliver on these opportunities. Article content For example, Patron recently announced the launch of its real estate credit business, as elevated interest rates and constrained traditional lenders have created a need for private lenders with real estate expertise to fill funding gaps facing borrowers. Article content MEGP also sees attractive long-term investment opportunities across Europe's private real estate markets and has identified Patron as an ideal partner to offer investors access to these, recognising the longevity of Patron's senior team and its exceptional track record of consistently delivering top-quartile double-digit returns across its flagship Western European opportunistic strategy. Article content Patron works with many of the world's leading pension funds, endowments, foundations and family offices. MEC is one of Japan's largest, listed real estate developers with a market capitalisation of $23.06 billion USD (€20.22 billion EUR) as of 06 June 2025. MEC is strategically growing its MEGP real estate investment management business globally, including through its subsidiary platforms in the United States, Europe, Japan and Asia-Pacific. Both firms have an agile, entrepreneurial approach and aim to deliver social benefits alongside exceptional returns. Article content Keith Breslauer, Managing Partner and Founder of Patron Capital, said: Article content 'In the 25 years since Patron was founded, we have worked successfully through many cycles, building a high-calibre team across Europe and using our deep relationships and skillset to access opportunities and drive market-leading returns. This significant investment from MEC, particularly as a leading property investor and developer, is a strong endorsement of our success and is the next step in our predefined growth plan to take the business to the next level and position it for sustainable, long-term growth. Article content 'MEC has an exceptional history spanning over 130 years as a real estate developer and investor with a long-term strategic vision, goals and objectives that are aligned with ours in every way. From a focus on social impact and serving communities, to supporting people to create an entrepreneurial culture, and responding quickly to changing investment contexts, these are two organisations with shared values and proven longevity that have been built on the same approach. We are excited to work with MEC following this investment that will accelerate our growth and deliver significant benefits to our staff and investors.' Article content Patron's current and previous funds opportunistically target distressed and undervalued investments, directly or indirectly related to property, across Western Europe. Article content In 2024, it closed its seventh flagship fund, Patron Capital, L.P. VII ('Fund VII'), raising in excess of €970 million during a period of declining real estate private equity fundraising, with a high proportion of capital coming in the form of re-ups from Patron's longstanding investors. Article content About Patron Capital Partners Article content Patron represents approximately €5.3 billion of capital raised across several funds and related co-investments, investing in property, corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses. Article content Since it was established in 1999, Patron has undertaken more than 200 transactions across 114 investments and programs involving over 9 million square metres in 17 countries, with many of these investments realised. Article content Investors represent a variety of sovereign wealth funds, prominent universities, major institutions and private foundations located throughout North America, Europe, Asia and the Middle East. The main investment adviser to the funds is Patron Capital Advisers LLP, which is based in London, and Patron has other offices across Europe including Barcelona and Luxembourg; the group is comprised of 63 people, including a 40-person investment team. Article content Article content Article content Article content Article content Article content
Yahoo
3 days ago
- Business
- Yahoo
Patron Capital Secures Major Investment From Mitsubishi Estate to Accelerate European Growth and Expand Into New Subsectors
LONDON, June 12, 2025--(BUSINESS WIRE)--Patron Capital ("Patron"), the pan-European institutional investor focused on property-backed investments, has secured a major investment from Mitsubishi Estate Co., Ltd. ("MEC"), through its Mitsubishi Estate Global Partners ("MEGP") investment management business. MEGP is purchasing a majority stake in Patron, as well as providing €600 million in the form of equity commitments to Patron's funds and financing for new subsector strategies including real estate credit. Approximately 57% of Patron's capital over the past 25 years and 63% of capital raised for its most recent €964 million fund launched in 2024 has come from US investors, including pension funds, endowments, foundations and family offices. The transaction, which is subject to regulatory consents, is part of a long-term strategic growth plan for Patron, providing new institutional backing and positioning the business positively for sustainable growth well into the future. Keith Breslauer, Patron's founder and managing director, and the team of senior partners will continue to manage Patron's operations and lead the business for the long term, retaining a significant minority equity stake. As well as new capital for growth, MEC's investment will provide Patron with access to a broader pool of investors through MEGP and support the expansion of Patron's fund and product offerings while continuing to nurture its entrepreneurial culture. Patron is targeting strategic growth areas across private European real estate markets, including in the opportunistic investing space, where it has a 26-year track record, as well as across multiple new subsectors and asset classes where recent market adjustments and structural macroeconomic trends are presenting compelling new long-term risk-adjusted opportunities. Patron's experienced senior management team and operational expertise, combined with MEC's support, enable Patron to identify and deliver on these opportunities. For example, Patron recently announced the launch of its real estate credit business, as elevated interest rates and constrained traditional lenders have created a need for private lenders with real estate expertise to fill funding gaps facing borrowers. MEGP also sees attractive long-term investment opportunities across Europe's private real estate markets and has identified Patron as an ideal partner to offer investors access to these, recognising the longevity of Patron's senior team and its exceptional track record of consistently delivering top-quartile double-digit returns across its flagship Western European opportunistic strategy. Patron works with many of the world's leading pension funds, endowments, foundations and family offices. MEC is one of Japan's largest, listed real estate developers with a market capitalisation of $23.06 billion USD (€20.22 billion EUR) as of 06 June 2025. MEC is strategically growing its MEGP real estate investment management business globally, including through its subsidiary platforms in the United States, Europe, Japan and Asia-Pacific. Both firms have an agile, entrepreneurial approach and aim to deliver social benefits alongside exceptional returns. Keith Breslauer, Managing Partner and Founder of Patron Capital, said: "In the 25 years since Patron was founded, we have worked successfully through many cycles, building a high-calibre team across Europe and using our deep relationships and skillset to access opportunities and drive market-leading returns. This significant investment from MEC, particularly as a leading property investor and developer, is a strong endorsement of our success and is the next step in our predefined growth plan to take the business to the next level and position it for sustainable, long-term growth. "MEC has an exceptional history spanning over 130 years as a real estate developer and investor with a long-term strategic vision, goals and objectives that are aligned with ours in every way. From a focus on social impact and serving communities, to supporting people to create an entrepreneurial culture, and responding quickly to changing investment contexts, these are two organisations with shared values and proven longevity that have been built on the same approach. We are excited to work with MEC following this investment that will accelerate our growth and deliver significant benefits to our staff and investors." Patron's current and previous funds opportunistically target distressed and undervalued investments, directly or indirectly related to property, across Western Europe. In 2024, it closed its seventh flagship fund, Patron Capital, L.P. VII ("Fund VII"), raising in excess of €970 million during a period of declining real estate private equity fundraising, with a high proportion of capital coming in the form of re-ups from Patron's longstanding investors. Notes to Editors About Patron Capital Partners Patron represents approximately €5.3 billion of capital raised across several funds and related co-investments, investing in property, corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses. Since it was established in 1999, Patron has undertaken more than 200 transactions across 114 investments and programs involving over 9 million square metres in 17 countries, with many of these investments realised. Investors represent a variety of sovereign wealth funds, prominent universities, major institutions and private foundations located throughout North America, Europe, Asia and the Middle East. The main investment adviser to the funds is Patron Capital Advisers LLP, which is based in London, and Patron has other offices across Europe including Barcelona and Luxembourg; the group is comprised of 63 people, including a 40-person investment team. Further information about Patron Capital is available at View source version on Contacts Media Enquiries to: James Carnegie t: +44 (0)7827 486224SEC Newgate e: patron@
Bloomberg
3 days ago
- Automotive
- Bloomberg
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.
Nikkei Asia
3 days ago
- Business
- Nikkei Asia
Mitsubishi Estate buys UK's Patron Capital in diversification drive
The Livingston Designer Outlet mall in Scotland is owned by Patron Capital. Japanese property group Mitsubishi Estate is acquiring a controlling stake in the U.K. fund manager. (Patron Capital) MOE SAITO TOKYO -- Japanese property group Mitsubishi Estate is acquiring a majority stake in Patron Capital Partners, a U.K. fund manager with assets under management of about 4.6 billion euros ($5.2 billion). The deal, which will bring Mitsubishi Estate's assets under management to around $48 billion, is aimed at diversifying the Japanese company's investments. It will nearly double the proportion of its assets in Europe, where it has a relatively small footprint, to close to 20% of its portfolio.
