Singapore-listed ARA Asset Management Limited (ARA) has acquired a majority stake in Venn Partners, an investment manager in European real estate private debt, via its subsidiary, ARA UK Asset Management Limited.
“The deal combines Venn’s specialist knowledge in European real estate credit and ARA’s global asset management expertise to grow the real estate credit platform globally,” said in a statement.
Founded in 2009, Venn is a specialist investment manager in European private real estate debt with combined AUM and investment mandates of over £5 billion. Its current strategies comprise a UK government-backed lending programme into private sector rental housing, value add strategies in UK and European commercial real estate debt, and residential mortgage finance in the Netherlands.
Mark Ebbinghaus, CEO of ARA Europe and Chairman of ARA Venn, said, “ARA has a built a wealth of experience in several real estate fund products across different sectors, but this is the Group’s first venture into European real estate credit. In the current and likely near term volatile market environment driven by reactions to the global pandemic, the real assets credit market is viewed as a positive space to be in, particularly for participants with committed undeployed capital, and those with established track record managing government programmes.”
Gary McKenzie-Smith, joint Managing Partner of Venn and head of its Residential business, commented, “We are excited to enter this partnership with such an experienced partner, and which is built upon shared corporate values and a vision for long-term expansion. We look forward to harnessing our combined strengths into an offering which provides compelling debt product for investors and borrowers across a wide range of markets and strategies.”
Paul House, joint Managing Partner and head of its Commercial Real Estate business, said, “We are delighted to announce the partnership with ARA is complete. As a combined team, we benefit from complementary skill sets and meet a demand from our investor and borrower clients to develop broader relationships with the wider Group’s core business partners.”
“ARA will continue to deepen its presence in Europe through both ARA Dunedin and ARA Venn as well as other platform opportunities, aligned by our investors-first philosophy, providing multiple growth opportunities for our capital partners across the various markets,” Mark added.