Paramount ‘absorbed’ by PREI

The real estate arm of Prudential has hired the Paramount team, including founders Andrew Radkiewicz and Andrew Macland, as PREI builds its mezzanine activities in Europe.

Paramount Private Equity founders Andrew Radkiewicz and Andrew Macland have joined Prudential Real Estate Investors, as the insurance giant looks to expand its real estate mezzanine operations.

Radkiewicz and Macland have been joined by Mathew Crowther and Brian Scally to develop PREI’s mezzanine platform in Europe. PREI is the real estate investment arm of Prudential Financial.

In a statement Robert Falzon, managing director and head of PREI’s European business, said the rapidly changing real estate markets were creating “immediate opportunities” and that, over the long-term, increasing amounts of mezzanine financing would be required as banks cut back on their lending activities.

Radkiewicz said there were opportunities to be found in providing “sustainable funding to property companies, providing restructuring liquidity to banks and by accessing stressed situations.”

Radkiewicz co-founded Rocksburgh Capital Investment Management in September 2007, and was previously a managing director at N M Rothschild & Sons, leading its real estate finance group. Macland was also a former director at Rothschild and has worked for Anglo Irish Bank and CCF Charterhouse.

Crowther worked as an assistant director at Rothschild and led structuring finance solutions for real estate loan portfolios at Clifford Chance, before joining Paramount. Scally was previously a manager for Australian chartered accountants JR Thomas before joining Paramount.