Singapore-based ARA Asset Management’s UK subsidiary has completed its purchase of a majority stake in Venn Partners.
The business, under the name ARA Venn, will look to build on its European real estate debt platform, which includes a UK government-backed lending programme into private sector rental housing, value add strategies in UK and European commercial real estate debt, and residential mortgage finance in the Netherlands.
ARA will provide cornerstone and working capital to drive the expansion of ARA Venn.
It is ARA’s first foray into the region’s real estate credit market.
Venn, which was founded in 2009, is led by managing partners Gary McKenzie-Smith and Paul House, and has more than £5bn of assets under management and investment mandates.
Mark Ebbinghaus, chief executive of ARA Europe and chairman of ARA Venn, said: “ARA has built a wealth of experience in several real estate fund products across different sectors, but this is the group’s first venture into European real estate credit.
“In the current and likely near term volatile market environment driven by reactions to the global pandemic, the real assets credit market is viewed as a positive space to be in, particularly for participants with committed undeployed capital, and those with established track record managing government programmes.”
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