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 United Kingdom.
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.
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