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PineBridge Investments To Acquire Benson Elliot Capital Management

PineBridge Investments has reached an agreement to acquire Benson Elliot Capital Management, a UK-based private equity real estate fund manager. Benson Elliot, which was founded in 2005, manages over US$3.5 billion of equity and holds a portfolio currently comprised of office, retail, hotel and residential assets across Europe, including in the UK, Germany, France, Spain, Italy, Belgium and Poland.

“In our tenth year as an independent firm, this is a significant milestone in our growth and we are thrilled to welcome the Benson Elliot team to PineBridge,” said Greg Ehret, CEO of PineBridge, “Real estate is a strategically important asset class for institutional investors, such as pension funds and insurance companies, who are looking to meet their long-term investment objectives, especially during a period of low real interest rates. 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, Executive Chairman and Chief Investment Officer at Benson Elliot, said, “Some months ago the leadership team at Benson Elliot undertook a strategic review to explore how we could build on fifteen years of success at Benson Elliot. We wanted to ensure that our organization would remain at the forefront of private equity real estate investing in a changing market environment. We’re pleased that this process has resulted in our joining forces with PineBridge. This partnership will enable us to put in place the infrastructure for future growth, to continue attracting and developing the best talent in the industry, and to sustain our track record of best-in-class performance. Importantly, it ensures continuity in our existing activities, respects the unique spirit and culture we’ve developed at Benson Elliot, and offers an exciting future for the Benson Elliot team.”

Following completion of the acquisition, Benson Elliot’s entire team of 40 professionals will join PineBridge. PineBridge was advised by Simmons & Simmons LLP and Perella Weinberg UK Limited. Benson Elliot was advised by Travers Smith and Berkshire Global Advisors.

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