Patron Capital

Patron Capital Partners ("Patron") is a Western European private equity real estate fund with its main investment advisor, Patron Capital Advisers LLP based in London, United Kingdom. Patron Capital Partners represents approximately €2.5 billion of capital across several funds and related co-investments. It targets opportunistic and value-oriented investments in undervalued property assets, loans and corporate entities with substantial underlying property value, predominantly in Western Europe. This includes investment in real estate and corporate operating entities whose value is primarily supported by real estate. The Fund focuses on middle-market transactions that typically require equity commitments in the range of €30 m to €90 m.

The fund was established in 1999. Keith M. Breslauer is the founding partner and the managing director of Patron Capital. As of November 2013 the Patron organisation includes a 60 person in-house team, consisting of 27 investment professionals and 15 senior advisers/direct partners, supported by a team of 29 in legal, tax, finance, structuring and administration.

Patron's main advisory offices are located in the United Kingdom and Luxembourg, with offices and significant partner operations in Germany, Italy, Romania, Russia, Spain and Poland.

As of November 2013, Patron has originated and executed over 100 transactions within 55 investments or programs, involving over 40 million square feet of assets in 13 countries across Europe.^[1] Patron has been selected as one of the finalists for ‘Investor of the Year’ at the 2013 HealthInvestor Awards.^[2]

Funds

Patron represents approximately €2.5 billion of capital across several funds and related co-investments from prominent universities, major institutions, private foundations, and high-net-worth individuals located throughout North America, Europe and Middle East.

• Captive Fund (1999), €76m
• Patron Capital L.P. I (2001), $110m (€82m)
• Patron Capital, L.P. II (2005), €303m
• Patron Capital, L.P. III (2007), €868m
• Patron Capital, L.P. IV (2011), €781m + €200m co-investment

Recent Investments and Exits

Recent transactions include:

• In October 2013 a complex of 5 connected commercial real estate assets in central Manchester including the 23,000 spectator capacity Manchester Arena and 14,000 sqm of offices, were sold for £82.1m ^[3]
• In July 2013 Patron Capital acquired a 20,000sqm single-tenanted office complex located in Malakoff ^[4]
• In March 2013 Patron and Legal & General acquired CALA Group Limited, a UK home builder. As of June 2013, CALA’s land bank was over 10,000 plots with a further 4,500 plots within a longer term strategic landbank, with a gross development value in excess of £3.2 billion ^[5]
• In November 2012 Patron Capital and Mountgrange jointly acquired a £184 million 'distressed' property portfolio from Henderson Global Investors comprising 24 office, industrial and retail properties ^[6]
• Patron Capital plans 950-bed Paris and 264-bed Rome Generator hostels. Recently new hostels in Barcelona(March) and Venice (July) were opened. Refurbishment of the London hostel was completed in October.^[7]
• In September 2012 Patron Capital in a joint venture with TPG acquired 202 assets across the Netherlands via the purchase of the senior loan and in turn the direct ownership of Uni-Invest; facilitated through the default of the bonds within the commercial mortgage-backed security vehicle of Opera Finance ^[8]
• Acquisition of 3 residential blocks of apartments in Barcelona comprising 208 flats (14,700 sqm), 6 retail units (600 sqm), 230 parking spaces and 14 storage rooms ^[9]
• Acquisition of the Motor Fuels Group which owns and operates 58 petrol filling stations and associated convenience retailing stores located throughout the United Kingdom^[10] Followed on by bolt on acquisition of 54 assets in July 2013 ^[11]
• Acquisition of a portfolio of 26 hotels (2,861 rooms) from the administrators of Jarvis Hotels^[12]
• Development of Gracewell, a platform whose primary objectives are to build, acquire and operate high quality care homes in the UK^[13]
• Purchase of an office building of approximately 16,000 sqm in Berlin-Mitte, close to Alexanderplatz^[14]
• Acquisition of a portfolio of seven regional UK, family-oriented hotels (211 rooms) formerly owned by the Von Essen Group^[15]
• Acquisition of a complex of five connected commercial real estate assets in central Manchester including the 23,000 spectator capacity Manchester Arena and 14,000 sqm of offices^[16]

Charity effort

Patron Capital supported Charities involved in Cancer & Medical Research, Children's Hospitals, Senior Care, Mental Disability, Physically Challenged Youth, and Schools in Developing Countries. Patron Capital also takes part in the annual Royal Parks Foundation Half Marathon, raising over £12,000 in 2013 benefiting Disabled Royal Marines and Resources for State School Teachers.^[17]

Keith Breslauer climbed the Nose Route of El Capitan and raised more than £42,000 in 2011 for the disabled War veterans of the Royal Marines.^[18]

References

External links

• Patron Capital

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