The pan-European institutional investor focused on asset-backed investments, Patron Capital, has closed its most recent fund, raising EUR 844 million
businesswire | January 11, 2021
Benefactor Capital, the container European institutional speculator zeroed in on property-upheld ventures, has shut its latest asset, raising €844 million ($1.038 billion), including roughly €128 million ($157 million) of co-venture capital for Patron Capital, L.P. VI ('Fund VI').
Of the all out €844 million raised for Fund VI, 83% came from Patron's current speculator base and existing connections, with most of responsibilities coming from North America, trailed by Asia Pacific, Europe, and the Middle East. Financial specialists included benefits reserves, sovereign abundance reserves, enrichments, establishments and resource supervisors. Evercore went about as the essential position specialist.
Asset VI will proceed with a similar speculation system as Patron's past assets, shrewdly focusing on upset and underestimated ventures, straightforwardly or by implication identified with property, across Western Europe. The asset will put resources into singular properties across a scope of areas, just as in property-upheld corporate speculations and credit openings. Lately, the Fund has just finished a few speculations and is in the last phases of shutting on a few others, utilizing around 25% of the Fund's venture limit.
Keith Breslauer, Patron Capital’s founder and Managing Director, said:
“This is the seventh fund that we have closed in our 21-year history. In this time, we have established a proven track record in identifying opportunities and maximising value, built exceedingly strong relationships and, ultimately, demonstrated that we can deliver attractive returns in any economic environment. This is why we have been able to close this latest fund with such a high proportion of our existing investors and relationships, as well as bring in the final tranche of capital against a backdrop of extreme uncertainty due to the COVID-19 pandemic.
“The pandemic has accelerated a number of existing trends across different real estate sectors in Europe, as well as created opportunities to acquire fundamentally sound but mismanaged assets at attractive prices. Our experienced team, granular approach and in excess of €3 billion of firepower means we are well positioned to make the most of these opportunities and we are actively looking to deploy capital.”
About Patron Capital
Patron represents approximately €4.3 billion of capital 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 170 transactions across 84 investments and programs involving over 65 million square feet (6 million square metres) in 16 countries, with many of these investments realised.
Investors represent a variety of sovereign wealth funds, prominent universities, major institutions, private foundations, and high net worth individuals 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 71 people, including a 40-person investment team.