Legal practice Norton Rose has acted for Europa Capital, the European private equity real estate fund manager, on the sale of a stake to Rockefeller Group, creating a USD20bn (GBP12.7bn) fund management group.
Europa has more than EUR2bn (GBP1.8bn) in equity under management in six opportunistic European real estate funds and more than EUR6.5bn (GBP5.7bn) invested in 17 European countries since 1995.
Rockefeller Group, established in 1928 to develop the Rockefeller Centre in New York, is now owned by Japan’s Mitsubishi Estate.
Norton Rose lead London based partner Mark Lloyd Williams says: “We were very pleased to be involved in this transaction, setting up a strong and exciting vehicle which combines the best of both Europa and Rockefeller Group/Mitsubishi Estate. We believe there will be significant consolidation in the European real estate fund management sector as management teams seek to secure greater financial stability. This deal puts Europa in a very strong position.”
