Weinberg Capital Partners-the Paris based investment firm, has acquired the French operations of Paris-headquartered real estate firm Captiva Capital Management.
Captiva Capital Management, with pan-European operations, is led by Emeric Lacourte and has €300 million worth of real estate assets in France. Post the acquisition, the firm’s French operations will be called W Asset Management.
“This acquisition is a great opportunity to expand our real estate platform to asset management on behalf of institutional clients through dedicated mandates,” Serge Weinberg, president of Weinberg Capital Partners said in a statement. “It fits our strategy to capitalize on our expertise in private equity and real estate where we have already achieved to raise €800 million of capital.”
Laurent Halimi, managing director and head of real estate, said that the acquisition will “allow the firm’s LPs to access investment opportunities through stand-alone investments or club deals, complementary to those completed by Weinberg Real Estate Partners.”
Lacourte, who has worked for five years with Captiva in France and Germany, said: “I am thrilled to join Weinberg Capital Partners to develop the asset management activity I have initiated a few years ago. The Weinberg Capital Partners’ platform and strong investors’ base will be key to the development of W Asset Management.
On the fundraising side, in June last year, Weinberg Capital Partners held a final close for a Weinberg Real Estate Partners (WREP2) – a value-add and opportunity fund launched in 2013 – raising nearly €200 million, 30 percent above its original fundraising target. The maiden investment made via the fund was a portfolio of office buildings in Paris.