Global real estate manager Rockefeller Group International has become a strategic investor in European property fund management group Europa.
RGI, a subsidiary of Mitsubishi Estate Company in the US, will acquire a majority interest in London-based Europa, which manages six property funds and has invested €6bn in 17 European countries over the past 15 years.
Europa said RGI’s investment in the group will not lead to changes in its strategy and day-by-day operations, although it will, Europa said, create new opportunities of access to international investors.
RGI said the investment in Europa will provide access to investment in the European property market. “The alliance with Europa is a significant step in the realisation of a RGI/MEC global real estate investment management platform,” said Kevin Hackett, chief executive of RGI.
Click here to read Estates Gazette editor Damian Wild’s blog about ExpoReal2010
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