Business Wire India
Patton-European institutional investors, which focus on asset-backed investments, have closed their most recent fund, raising € 844 million ($ 1.038 billion), including a co- Approximately € 128 million ($ 157 million) of investment capital is included, LP VI (‘Fund VI’).
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Keith Breslauer, Founder and Managing Director of Patron Capital (Photo: Business Wire)
Of the total € 844 million raised for Fund VI, 83% came from Patron’s current investor base and existing relationships, with the majority of commitments coming from North America, followed by Asia Pacific, Europe and the Middle East. Investors included pension funds, sovereign wealth funds, endowments, foundations and asset managers. Evercore acted as the primary placement agent.
Fund VI will continue the same investment strategy as directly or indirectly targeting property-related, distressed and undeclared investments across Western Europe. The fund will invest in individual assets in several areas, as well as in asset-backed corporate investment and credit opportunities. In recent weeks, the fund has already completed several investments and is in the final stages of closing on several others, utilizing approximately 25% of the fund’s investment capacity.
Keith Bresler, founder and managing director of Patron Capital, 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 for identifying opportunities and maximizing value, building highly strong relationships and, ultimately, demonstrating that we can deliver attractive returns in any economic environment. This is why we are able to close this latest fund with a high proportion of our existing investors and relationships, as well as the final tranche of capital against the backdrop of extreme uncertainty caused by the COVID-19 epidemic.
“The epidemic has intensified many current trends in various real estate sectors in Europe, as well as creating opportunities to misuse property at fundamentally sound but attractive prices. Our experienced team, granular approach and firepower of over € 3 billion mean that we are well positioned to make the most of these opportunities and we want to actively deploy capital. “
About Patron Capital
Patreon represents capital of approximately € 4.3 billion in a number of funds and related co-investments, investing in property, corporate operating units whose value is primarily supported by asset assets and distressed debt and debt related businesses .
Since it was established in 1999, Patron has invested in more than 65 square feet (6 million square meters) in 16 countries and more than 170 transactions in 84 investments, many of which realized investments.
Investors represent various sovereign wealth funds, major universities, major institutions, private foundations and high net worth individuals located throughout North America, Europe, Asia and the Middle East. The funds’ main investment advisor is Patron Capital Advisors LLP, based in London, and Patron has other offices across Europe, including Barcelona and Luxembourg; The group consists of 71 people, including a 40-man investment team.
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