Patron Capital

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Patron Capital Partners
Limited Partnerships
Industry Private equity, real estate
Founded 1999
Founder Keith Breslauer
Headquarters London, United Kingdom (main adviser)
Products Investments, private equity fund
Total assets €2.5bn (equity)
Number of employees
73 (Patron team)
Website http://www.patroncapital.com/

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[edit]

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[edit]

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[edit]

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[edit]

  1. ^ "TPG and Patron Capital close Uni-Invest acquisition". CoStar Finance. 
  2. ^ "Patron Capital hires Mark Collins ahead of 12-month £1bn spending spree". CoStar Finance. 
  3. ^ "PIOnline : Subscription Center". 
  4. ^ http://www.patroncapital.com/media/101266/150514_keith_breslauer_shortlisted_at_business_charity_awards.pdf
  5. ^ http://www.peglobalnews.com/patron-capital-and-electra-partners-acquired-cala-group-limited/
  6. ^ "PropertyEU". 
  7. ^ "Patron and L&G join forces in social investment fund". Financial Times. 
  8. ^ "Patron Capital acquires the Clarion Hotel IFSC Dublin". Hospitality & Catering News. 
  9. ^ "2015 Winners » Property Awards 2016". Property Awards 2016. 
  10. ^ "Patron Capital Adds Two Properties To Its UK Investment Portfolio - AltAssets Private Equity News". 
  11. ^ "CoStar UK - The Leader in Commercial Property Information". www.costar.co.uk. Retrieved 2016-07-13. 
  12. ^ "Housebuilder Cala unveils plans to double in size". BBC News. 
  13. ^ https://www.pie-mag.com/articles/5692/uk-patron-s-paris-office-buy-said-at-euro-70m-plans-euro-500m-in-france/
  14. ^ Shelina Begum (21 October 2013). "An £82.1m deal to buy the Phones 4u Arena has been completed". men. 
  15. ^ "Patron Capital buys Clarion Hotel in IFSC for €33m". The Irish Times. 17 January 2014. 
  16. ^ "Patron buys NAMA loan portfolio". Property Week. 
  17. ^ "Patron sells Leipzig properties". PropertyEU News. 26 May 2014. 
  18. ^ "Patron and Pamera buy Munich office". PropertyEU News. 6 May 2014. 
  19. ^ "HealthInvestor - Article: Patron Capital sells Gracewell Healthcare for £153m". 
  20. ^ "Schroder Property buys €34m Berlin office". Investment Europe. 
  21. ^ Insider Media Ltd. "MFG completes acquisition of 450 petrol stations". Insider Media Ltd. 
  22. ^ Neil Callanan (7 May 2015). "Pampered Millennials Are Demanding High-End Hostels". Bloomberg.com. 
  23. ^ "Redevco acquires Karstadt Sports Braunschweig". 
  24. ^ "Patron completes two more acquisitions worth GBP100m". Property Funds World. 7 May 2015. 
  25. ^ "Americans pull in at motorway services". The Times. 
  26. ^ http://www.propertyeu.info/index-newsletter/patron-capital-sells-eur-80m-paris-office-property-to-eurosic/
  27. ^ "Patron Capital acquires shared equity mortgage portfolio from Galliford Try plc". Property Funds World. 8 July 2015. Retrieved 13 July 2016. 
  28. ^ "Patron buys shared equity mortgage portfolio". Property Week. 
  29. ^ "CoStar UK - The Leader in Commercial Property Information". www.costar.co.uk. Retrieved 2016-07-13. 
  30. ^ Jefford, Kasmira (2015-10-12). "RBS and Patron Capital sell 32 UK hotels". Retrieved 2016-07-13. 
  31. ^ Jefford, Kasmira (2016-01-04). "Grainger sells Retirement Solutions business for £325m". Retrieved 2016-07-13. 
  32. ^ "Generator Hostels owner sells Staybridge Suites Liverpool | Boutique Hotelier". www.boutiquehotelier.com. Retrieved 2016-07-13. 
  33. ^ "Patron Capital - Charities & Foundations". 
  34. ^ "Charity begins at homes, offices, hotels, warehouses and shops". Property Week. 
  35. ^ "Keith Nose how to help veterans by reaching summit."
  36. ^ http://www.patroncapital.com/media/92863/patron260k250714.pdf
  37. ^ "Patron Capital boss Keith Breslauer's charitable voyage across the Channel". 18 December 2014. 

External links[edit]