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PineBridge buys PERE firm with Europe portfolio

PineBridge, Greg EhretPineBridge Investments is to acquire Benson Elliot Capital Management, a UK-based private equity real estate fund manager.

Benson Elliot, founded in 2005, will transfer its 40 staff to PineBridge.

The deal also gains PineBridge US$3.5 billion (€2.9 billion) of assets under management and portfolios of office, retail, hotel and residential buildings across Europe.

Benson Elliot’s most recent fund was the Benson Elliot Real Estate Partners V, closed in 2019 at €836 million.

Greg Ehret (pictured), CEO of PineBridge, said: “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.”

As of June 30, 2020, PineBridge managed $104.4 billion.

The cost of the deal was not disclosed.

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