Mitsubishi Buys Stake in Private Equity Property Firm Patron (1)

Mitsubishi Estate Co. has bought a majority stake in European private equity property fund manager Patron Capital, the latest sign of Japanese investment washing into the UK.

The Tokyo-based group’s investment management business, Mitsubishi Estate Global Partners, is acquiring the stake from Patron’s management led by founder Keith Breslauer, according to a statement Thursday. The deal will see Mitsubishi commit about €600 million ($686 million) of equity to Patron’s funds to help it build out new strategies including its nascent credit business, it said.

It is the latest example of European private equity real estate platforms being snapped ...