Patron Capital has launched a $250m fund in partnership with Ivory Gate Group.
According to the fund’s principal manager Keith Breslauer, who set up Patron in March: “We will have $250 of equity so assuming a 75% leverage it could reach $1bn in purchasing power.”
The two UK partners plan to buy in western Europe, with favourite countries being France, Germany, Spain and Italy. “We are aiming to buy mostly direct property, also property-related companies and mortgage business,” said Breslauer.
Breslauer set up Patron in March after leaving Capstar Holdings. Originally the new fund was planned to be smaller at $150m.
