Revetas opens Budapest office, makes key regional hire

Revetas Capital Advisors, the recently launched Central and Eastern Europe fund manager, has opened a new office in Budapest and hired its first regional director.

Revetas Capital Advisors, the Central and Eastern Europe firm formed in February this year, has opened an office in Budapest and has hired its first regional director. The firm announced today it hired Patrick Wigan, a former head of investor relations at developer TriGranit, and has charged him with scouting deals as well as sourcing finance for investments.

Wigan had been an acquisitions manager at Portico Investments, an investor in the CEE region where he worked between January 2010 and May 2012.  Prior to that, he was at European developer and investment manager, TriGranit, for 2 years. He also spent four years at property agent, Knight Frank.

The news comes a week after Revetas revealed how it had teamed up with London-based private equity real estate firm Patron Capital, in what it described as a strategic relationship. Patron’s founder, Keith Breslauer, has become a member of the firm’s advisory board along with Jeremy Isaacs, the former chief executive officer for Europe, the Middle East and Asia-Pacific at Lehman Brothers, between 2000 to 2008.

Revetas is a company formed by New York-born property entrepreneur, Eric Assimakopoulos. In addition to the Budapest office, it has offices in Guernsey, Bratislava, Vienna, and London. The firm is looking to invest in distressed real estate opportunities in Central and Eastern Europe and aims to raise €250 million for its maiden fund, Revetas Capital Partners LP I.

“The addition of Patrick to our team continues our expansion in the region and the development of our proprietary platform which supports banks, investors and local owners in the restructuring, recapitalisation and deleveraging of debt whilst providing much needed liquidity in the market,” said Assimakopoulos.