Thursday, 2 April 2015
Valad Europe acquisition by Cromwell Property Group completes (EU)
Valad Europe, the leading independent European investment manager, announces the completion of the process which started six months ago to select a new long-term owner.
Cromwell Property Group, one of Australia’s leading property investment and funds management groups with a market capitalisation of AUD2 bln (€1.4 mln), has completed the acquisition of Valad Europe from senior management and Blackstone Real Estate Partners VI for a total consideration of €145 mln.
Valad Europe will continue to be run by the same management team and operated as an independent business, being able to work with a broad spectrum of capital partners including sovereign wealth funds, pension funds and private equity funds as well as banks and financial institutions.
Martyn McCarthy, Executive Chairman of Valad Europe said: “We have known the Cromwell management team for a long time and we are pleased to have a parent company with such an outstanding track record. We look forward to continuing to deliver strong performance and returns to our investor and banking partners and growing the Valad Europe business, as the European real estate cycle enters the next exciting phase of growth.”