PineBridge Investments has reached an agreement to acquire Benson Elliot Capital Management, a U.K.-based private equity real estate fund manager. Financial details of the transaction are not being disclosed, and the transaction is subject to certain customary regulatory and other approvals.
Benson Elliot, which was founded in 2005, manages more than $3.5 billion of equity and holds a diversified portfolio currently comprised of office, retail, hotel and residential assets across Europe, including in the United Kingdom, Germany, France, Spain, Italy, Belgium and Poland. Since inception, the firm has deployed a consistent asset-driven, value-add, risk-sensitive and exit-focused investment strategy. Benson Elliot has successfully launched four European funds, the most recent of which, Benson Elliot Real Estate Partners V, closed in 2019 at €836 million. The firm’s prior fund, Benson Elliot Real Estate Partners IV, has already realized more than half of its invested capital
