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Laxman Pai, Opalesque Asia: Patron Capital, the pan-European institutional investor focused on property-backed investments, has closed its most recent fund, raising EUR 844 million ($1.038 billion), including approximately €128 million ($157 million) of co-investment capital for Patron Capital VI.
The Fund has the mandate to invest opportunistically targeting distressed and undervalued real estate investment opportunities across Western Europe.
It will invest in individual properties across sectors as well as property-backed corporate investments and credit opportunities. About 25% of the fund's investment capacity has already been invested or is in the final stages of being allocated, said a press release from the European property-backed investments specialist.
With 83% of the Fund's limited partners (LPs) are comprised of existing investors, the Fund's investors include pension funds, sovereign wealth funds, endowments, foundations, and asset managers from North America, followed by Asia Pacific, Europe, and the Middle East, said Patron.
Investors include the University of Michigan, Ann Arbor, which committed €45 million to the feeder fund in June 2019.
The Fund is already about 25% committed to date in several investments.
"The pandemic has accelerated several 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 expe...................... To view our full article Click here
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