Benson Elliot Capital Management, the leading private equity real estate firm, is pleased to announce that it has been awarded the 2009 European Fundraise of the Year by Private Equity Real Estate, a key industry publication. The award recognises the successful, oversubscribed closure of Benson Elliot Real Estate Partners III (“BEREP III”), during one of the most turbulent periods experienced in financial markets in decades.
The annual awards are amongst the most significant accolades connected with the global private equity real estate industry, highly regarded because shortlisted companies are independently voted on by the real estate community itself. In 2008, Private Equity Real Estate named Benson Elliot as one of ten emerging managers globally likely “to shape the private equity world around them.”
BEREP III was launched to exploit the opportunities created by unprecedented dislocation in the property sector in the face of the global financial crisis. The €505 million fund will invest in a broad range of performing and non-performing real estate assets across Europe, building on Benson Elliot’s strong track record. Once gearing has been applied, BEREP III will have buying power of €1.5 to €2.0 billion.
Commenting, Marc Mogull, Benson Elliot’s Managing Partner said: “This recognition from investors and peers is a testament to the firm’s professionals, who in less than five years have created one of the most successful independently managed franchises in the private equity real estate industry. This award is a great way to round off a successful, if challenging, 2009, and we look forward to building on this achievement in 2010 and beyond”.