April 27, 2016

Pradera and LJ Partnership announce strategic investment

Pradera and LJ Partnership announce strategic investment

Pradera, one of Europe’s leading specialist retail property fund and asset managers, is set for substantial growth following the announcement of a strategic investment by multi-family office LJ Partnership, which has agreed to acquire a significant minority interest in Pradera. Pradera’s other shareholders include the current senior management team.

LJ Partnership is a leading privately held multi-family office, which operates across the globe. As a multi-family office, it looks after the interests and investments of a range of individuals, family offices, foundations and charities. LJ Partnership has built a substantial, privately owned real estate investment platform and currently advises a property portfolio of approximately $4 billion.

Pradera is a market leading specialist fund and asset manager of shopping centres and retail parks in the UK and Europe. Founded in 1999, Pradera’s €2.3 billion portfolio comprises over 50 shopping centres and retail parks in the UK, Spain, Italy, Greece, Germany, Poland, the Czech Republic and Turkey, accommodating more than 2,000 tenants.

The current Pradera management team will retain full control of business strategy and the day to day running of the business. Two senior directors from LJ Partnership will be appointed to the Pradera board, supplementing the current management team.

Welcoming the investment, Managing Director David Fletcher said: “This significant investment marks the beginning of another exciting phase for Pradera that should take the company into new segments of the retail market and over time into new geographies. It should help drive growth and allow us to further improve our service to clients and investors alike.”

“With LJ Partnership’s largest shareholders being family offices/businesses from Hong Kong and Latin America, there is real potential for growth in regions previously untapped by Pradera. This will take the business into the family office market, supplementing, but not competing with, our historic strong institutional client base.”

Chairman Colin Campbell said: “This investment by LJ Partnership brings a long-term strategic partner with a commitment to helping us grow the business. It demonstrates strong faith in Pradera’s management team, its current strategy and its growth potential. LJ Partnership has an excellent track record of investing in real estate and real estate management platforms and we look forward to working with them closely in the future.”

Andrew Williams, CEO of LJ Partnership, said: “We are delighted to announce this strategic investment in Pradera. We share a common focus and strong track record in real estate management and investment but also have different strengths in terms of geographical reach and the capital that we manage. This collaboration comes at a time that LJ Partnership is enjoying rapid growth. It will broaden and deepen our European platform, enhancing our local presence in major European markets and enable us to bring a broader range of investment opportunities to the select group of individuals and families that we represent.”

The transaction has received regulatory approval and is expected to complete shortly.

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