THE ROCKEFELLER Group has bought a 75 per cent stake in Europa Capital, as the American property investor branches out into Europe.
Rockefeller, one of the oldest real estate groups in the US, paid an undisclosed amount for the stake in the London-based Europa.
“The alliance with Europa is a significant step in the realisation of a [Rockefeller] global real estate investment management platform,” said Kevin R Hackett, president and chief executive of Rockefeller, which is owned by Japan’s Mitsubishi Estate.
Europa said in a statement yesterday that its five principal partners will retain a significant minority stake in the company, and that day-to-day operations will be unchanged.
The principals said in a statement: “This is a dynamic time for the real estate market and property fund management business and we see significant scope for developing our business from its established base through the introduction of a strategic investor with an international reach.”
Europa manages funds on behalf of 70 investors, and has more than €6bn (£5.2bn) invested across 17 countries. It is understood that the firm did not solicit approaches, though it was hoping to expand its investment range.
Rockefeller, which was advised by Credit Suisse during the deal, is synonymous with its first project, the Rockefeller Center in New York.