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 investments in European property, corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses.^[1] Patron targets opportunistic investments with an equity size typically in the range of €30m to €90m.^[2]

Patron was established in 1999. Keith M. Breslauer is the founding partner and the managing director of Patron Capital.^[3] As of May 2015 the Patron organisation includes a 73-person in-house team, including a 42-person investment team.^[4]

Patron's main advisory offices are located in the United Kingdom and Luxembourg, with offices and significant partner operations in Germany, Italy, Spain and Poland.^[5]

As of May 2015, Patron has invested in 56 investments involving over 65 million square feet in 13 countries.^[6] In November 2014, the firm announced a deal with Legal & General to launch a strategic partnership to invest in long-term property-related opportunities with a positive social impact.^[7]

In addition to individual assets, Patron's investee companies include CALA Homes, Generator Hostels and the Powerleague five-a-side football centres.^[8]

In April 2015, Patron's managing director, Keith Breslauer, was named Property Entrepreneur of the Year at the 2015 Property Awards, organised by trade magazine Property Week.^[9]

Funds

Patron represents approximately €2.5 billion of capital across several funds and related co-investments. Investors include universities, institutions, private foundations, and high-net-worth individuals located throughout North America, Europe and Middle East.^[10]

• 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
• Patron Capital, L.P. V (2016), €806m + €143m co-investment^[11]

Recent Investments and Exits

Recent transactions include:

• 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^[12]
• In July 2013, Patron Capital acquired a 20,000sqm single-tenanted office complex located in Malakoff, Paris^[13]
• 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^[14]
• In January 2014, Patron acquired the Clarion Hotel in the International Financial Services Centre in Dublin^[15]
• In May 2014, Paron acquired a €228m loan portfolio from NAMA^[16]
• In May 2014, Patron and Leipziger Stadtbau AG sold two buildings in Leipzig^[17]
• In May 2014, Patron and Pamera acquired Ridlerstrasse 55 in Munich^[18]
• In August 2014, Patron sold Gracewell Healthcare for £153m^[19]
• In September 2014, Patron sold Mollstrasse 1, a freehold office property in Berlin-Mitte to Schroder Property^[20]
• In October 2014, Patron, via its UK forecourt business Motor Fuel Group, completed its acquisition of the entire UK retail business of Murco Petroleum Limited^[21]
• In November 2014, Patron sold a minority stake in its Generator Hostels business to Invesco^[22]
• In March 2015, Patron sold a retail property in Braunschweig, Lower Saxony to Redevco Services Deutschland GmbH^[23]
• In May 2015, Patron acquired Arlington Business Park in Theale, Reading, and The Mint, a 120,000 sq ft office building in Leeds^[24]
• In June 2015, Patron sold Motor Fuel Group to Clayton, Dubilier & Rice^[25]
• In July 2015, Patron sold its office investment in Malakoff, south of Paris, to Eurosic for €80m^[26]
• In July 2015, Patron Capital acquired a shared equity mortgage portfolio from Galliford Try plc^[27]
• In July 2015, Patron acquired a shared equity mortgage portfolio from Galliford Try^[28]
• In September 2015, Patron Capital and APAM sold Crossways Point buildings in Dartford to CCLA Investment Management Ltd^[29]
• In 12 October 2015, Patron Capital and RBS sold Jupiter Hotels for £160m^[30]
• In January 2016, Patron Capital and Electra Partners purchased Grainger Retirement Solutions for £325 million^[31]
• In February 2016, Patron sold its stake in the Staybridge Suites hotel in Liverpool to its partner Cycas Hospitality^[32]

Charity effort

Patron Capital supported Charities involved in Cancer & Medical Research, Children's Hospitals, Senior Care, Mental Disability, Physically Challenged Youth, Community Security, Police Benevolent Association and Schools in Developing Countries.^[33] Patron has given free use of its Powerleague five-a-side football centres for charity tournaments to raise money for disabled Royal Marines veterans and has offered free breaks and away days at its Luxury Family Hotels to the families of disabled British servicemen.^[34]

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.^[35]

In 2014, Patron was the lead sponsor of the RM1664 Challenge, celebrating the 350th anniversary of the Royal Marines.^[36] As part of this, Keith Breslauer joined 25 retired and serving Royal Marines in a cross-Channel kayaking challenge that raised £215,187 for the Royal Marines Charitable Trust Fund.^[37]

References

External links

• Patron Capital
• @patroncapital at Twitter