Investment manager Patrizia added 30 new domestic and international clients last year, helping it to raise new equity commitments of €1.9bn (£1.6bn) despite what its management team called “one of the worst economic environments globally” during the pandemic.
Announcing the company’s full-year results, chief executive Wolfgang Egger said: “We were able to raise around €1.9bn of fresh equity for investments in resilient markets in Europe. Our clients trust us even in difficult times for three reasons: we are a forward-thinking partner, we invest responsibly and we have an extensive track record of delivering value.”
At €116.5m, 2020 profit was down by 13.4%, the company said, but in line with guidance. Assets under management grew by 5.7% to €47bn.
“The focus on core/core-plus and selected value-add investment strategies, as well as crises-resistant asset classes like residential and logistics, helped to withstand pressure from increased market uncertainties,” the company’s results announcement said.
Patrizia expects its 2021 profit to be between €100m and €145m.
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