London and New York, 4 January 2021, PineBridge Investments (‘PineBridge’), a private, global asset manager focused on active, high-conviction investing, has completed the acquisition of Benson Elliot Capital Management (‘Benson Elliot’), a UK-based private equity real estate fund manager. The acquisition was first announced on the 14th October 2020 and has now received regulatory approval.
Benson Elliot, which will now be called PineBridge Benson Elliot LLP, was founded in 2005, manages over US$3.5 billion of equity and holds a diversified portfolio currently comprised of office, retail, hotel and residential assets across Europe, including in the UK, 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’s entire team of 40 professionals will join PineBridge, with the acquisition expanding PineBridge’s client offerings in alternatives, adding new capabilities and investment vehicles to its successful private funds, structured capital and private credit businesses.
Greg Ehret, CEO of PineBridge, said, “I am delighted to welcome the Benson Elliot team to the PineBridge family. Real estate is a strategically important asset class for institutional investors who are looking to meet their long-term investment objectives. Benson Elliot’s industry-leading expertise in European real estate will complement and diversify our firm’s investment offering allowing us to best serve our global client base.”
Marc Mogull, Chairman and Chief Investment Officer at PineBridge Benson Elliot LLP, said, “We believe this partnership will enable us to build on 15 years of success at Benson Elliot. It ensures we will remain at the forefront of the private equity real estate industry in Europe, that we continue to attract, retain and grow the best talent, and that we continue to deliver best-in-class performance. Importantly, it ensures continuity in our existing activities, respects the unique spirit and culture we’ve developed, and offers an exciting future for the team”.
PineBridge was advised by Simmons & Simmons LLP and Perella Weinberg UK Limited. Benson Elliot was advised by Travers Smith and Berkshire Global Advisors.
PineBridge Investments is a private, global asset manager focused on active, high-conviction investing. We draw on the collective power of our experts in each discipline, market, and region of the world through an open culture of collaboration designed to identify the best ideas. Our mission is to exceed clients’ expectations on every level, every day. As of 30 September 2020, the firm managed US$111.7 billion across global asset classes for investors around the world.
Benson Elliot Capital Management LLP, founded in 2005, is a leading independent private equity real estate fund manager, with over US$3.5 billion of managed equity. The UK-based, FCA regulated firm has a pan-European investment platform and invests primarily in the UK, Germany, France, Spain, Italy and Poland.
Benson Elliot holds a diversified real estate portfolio, currently comprised of office, retail, hotel and residential assets. The Benson Elliot team has experience in delivering superior risk-adjusted returns through active and innovative investment management, investing successfully through market cycles.