European private equity group Patron Capital Partners has appointed Mark Collins to spearhead its 拢1 bn (EUR 1.2 bn) spending spree in the UK market over the next 12 months.
European private equity group Patron Capital Partners has appointed Mark Collins to spearhead its 拢1 bn (EUR 1.2 bn) spending spree in the UK market over the next 12 months.
Collins, who previously headed banking group Lloyds' property business support unit, will become a partner in Patron and chairman of its UK investment business. He will work with Patron's investment team and product specialists to target healthcare, hotels, leisure, and development opportunities in the UK. In addition, he will work with banks and other partners on acquisitions, joint ventures and restructuring real estate situations with new equity provided by Patron.
Prior to Lloyds, Collins held a number of senior positions in the UK real estate market, including senior managing director at GE Capital Real Estate, chief operating officer at Land Securities, and CEO of Tellesma Fund Management.
Commenting on the appointment, Patron's founding partner Keith Breslauer said Collins' extensive experience would help the firm 'drive opportunities in an undervalued and distressed environment'.
'Working closely with our already strong 35-person investment team and existing sector specialists, he will help to achieve our ambitions for investing in the right market deals,' Breslauer noted.
Since its foundation 12 years ago, Patron has raised and represents over EUR 2.3 bn of funds, investing EUR 1.3 bn to date through more than 100 transactions within 50 investments or programmes across 13 countries.
In October 2011, Patron teamed up with Royal Bank of Scotland to take control of 24 hotels from Jarvis, the failed hotel operator.
