Hong Kong’s Peterson Group has bought a 20% stake in multi-family office LJ Partnership.
Peterson, which is owned by the Yeung family, has already invested £200m with LJ over the past three years. It is now strengthening its relationship by taking a stake in the company to make further plays in the residential, office and hospitality sectors in Europe and Asia.
The deal will help fuel the property companies that LJ backs, including Jason Kow’s Queensgate Investments, Hadley Property Group, Osprey Equity Partners and Cresco Capital. Peterson invested in Queensgate’s most recent £1.5bn second fund in 2014 and also took a majority stake in London residential developer Hadley in 2013.
Aside from its investments alongside LJ, Peterson has built up a portfolio that includes the Great Northern Warehouse in Manchester and the Ampersand building, W1. It also invests globally in structured lending and private equity.
Peterson is one of around 200 families that LJ manages investments for globally. It advises on £2bn of real estate interests but also on private equity investments and provides trust and fiduciary services. LJ is run by chief executive Andrew Williams, the former chairman of hospitality in EMEA for Cushman & Wakefield.
Williams said: “Our partnership with Peterson has already led to a number of exciting real estate investment opportunities and their further commitment to LJ Partnership will provide us with additional financial power, as well as access to Peterson’s extensive Asian network.”
Tony Yeung, Peterson Group’s managing director, added: “Having co-invested alongside LJ Partnership on a number of occasions, we know that they share similar aspirations and values. We look forward to building on that partnership.”
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