Former Lloyds Banking Group boss Mark Collins is to lead a £1bn 12-month investment spree at Patron Capital.
Collins, who spent the past two years working as managing director of the solutions team in the bank’s business support unit, joins the group as partner and chairman of its UK investment activity. He will work with Patron’s investment team to find opportunities in commercial distress, banking, healthcare, hotels, leisure, development and “complex” corporate situations.
Collins will also work with partners and banks on purchases, joint ventures and restructuring using equity from Patron’s investors, which include universities, institutions and high-net-worth individuals from the US and Europe.
The European property debt and equity investor has raised and represents more than €2.3bn of funds, and has invested €1.3bn to date. It typically targets opportunistic investments with an equity size of between €30m and €90m.
At the end of September last year, Patron Capital Advisors bought 24 Jarvis Hotels out of administration in a joint venture with Royal Bank of Scotland’s distressed property unit, West Register, for around £111m.
The portfolio comprised 21 freehold and three leasehold Ramada-branded hotels.
bridget.o’connell@estatesgazette.com
