Japan’s Mitsubishi Estate has taken a majority stake in Patron Capital, injecting €600m (£509m) of equity into its funds for new strategies including real estate credit.
Keith Breslauer (pictured), Patron’s founder and managing director, described the deal as “a strong endorsement of our success and… the next step in our predefined growth plan”.
The investment will provide Patron with access to more investors and support the expansion of its fund and product offerings such as the newly launched credit business,.
Patron’s funds target distressed and undervalued investments, directly or indirectly related to property, across Western Europe. Last year it closed its seventh flagship fund, Patron Capital L.P. VII, raising more than €970m.
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