Tristan Capital Partners spent $5bn (£3.8bn) on European real estate last year.
Funds managed by the pan-European real estate investment manager completed €4bn of transactions in 2021 – a 92% increase compared to 2019.
The figures include around €500m of real estate debt, originated through Tristan’s TIPS One Fund, which was launched in 2021.
Cameron Spry, Tristan’s co-chief investment officer, said: “This is a significant achievement in light of the environment in which we have been operating. During 2021 we focused on investment activity in the largest, most liquid markets and further diversified the product across our fund series.
“Despite Covid and the challenges faced by the market, we have continued to receive the support and confidence of new and existing clients across our funds, which enabled us to successfully deploy capital, drive returns and extend our network across Europe.”
Highlights from Tristan’s 2021 included its $1bn acquisition of the 69-property Project Mont portfolio, which was the largest transaction in the asset manager’s history.
Ali Otmar, head of investments, said: “Last year almost half of the investment opportunities we reviewed were off-market, which is a strong indicator of the quality and depth of our relationships, and the tremendous competitive advantage Tristan has in sourcing deal flow.
“Looking ahead, we are confident in our investment strategy and will continue to diversify the portfolios within our fund series to include identifying transactions within alternative sectors, such as senior living and life sciences, which provide unique opportunities for both our core-plus and opportunistic funds.”
Over the past five years, Tristan Capital Partners has grown to more than 155 people across eight offices with AUM of €14bn.
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