Ogier advises Mitsubishi Estate on its acquisition of a majority interest in Patron Capital

Ogier's corporate and funds teams in Jersey and Guernsey have advised Mitsubishi Estate Co., Ltd (MEC) on its acquisition, through the Mitsubishi Estate Global Partners investment management business (MECGP), of a majority interest in Patron Capital Advisers LLP (Patron). MECGP has further agreed to provide commitments to Patron's funds and financing for new subsector strategies including real estate credit.

MEC is one of Japan's largest real estate developers and is listed on the Tokyo Stock Exchange Prime Market. Through this strategic acquisition, MECGP will further strengthen support of its existing investors, broaden its investor base including Japanese investors, and leverage synergies with its own balance sheet capital investments to drive continued growth of Patron Capital and MEC’s European investment management business. Following this transaction, MECGP's total AuM will increase to approximately 6.8 trillion JPY.

Patron, established by Keith Breslauer in 1999, invests in European property and corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses. In 2024, Patron closed its seventh flagship fund, Patron Capital, L.P. VII, raising in excess of €970 million.

Funds specialists Niamh Lalor and Tim Clipstone led Ogier's Jersey and Guernsey teams, supported by counsel Joanna Christensen and associate Naomi Chinniah in Jersey and managing associate Michelle Watson Bunn and associate Antoaneta Shikerova in Guernsey.

Ogier advised on all Jersey and Guernsey corporate, regulatory and funds law aspects of the transaction alongside lead English counsel Travers Smith LLP.