Fore Partnership has completed a management buyout of the 32% stake held by Edmond de Rothschild Real Estate IM.
The acquisition was made with funding from OakNorth Bank.
It will give Fore increased independence for new acquisitions, in a bid to more than double its portfolio to £1bn in the next few years.
Fore Partnership has completed a management buyout of the 32% stake held by Edmond de Rothschild Real Estate IM.
The acquisition was made with funding from OakNorth Bank.
It will give Fore increased independence for new acquisitions, in a bid to more than double its portfolio to £1bn in the next few years.
Fore was setup in 2012 by Capricorn Investment Group, the family office of eBay’s first president, billionaire philanthropist Jeff Skoll.
The original shareholders comprised Fore Partnership’s management, Capricorn and Cording Real Estate Group, now part of Edmond de Rothschild Real Estate IM. Capricorn has retained a minority interest.
Basil Demeroutis, managing partner at Fore, said: “This deal represents an important step in Fore Partnership’s development and growth, enabling us to be more agile in our decision-making and pursue our mission to develop forward-thinking, purposeful real estate.”
Demeroutis acknowledged the “very difficult and challenging times” during the pandemic, as the industry seeks to understand the impacts.
“We are looking beyond this and are fully committed to our long-term vision, which indeed seems more relevant now than ever,” he said.
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