Europa Capital LLP has sold a 75% stake to Rockefeller Group International in an all-cash transaction. The Wall Street Journal quotes Rockefeller Group chief executive Kevin Hackett as explaining the move as part of the company’s global strategy. “We are looking to build out Europe.” Hackett said Europa’s current management would be left untouched.
Europa Group principal partner Charles Graham said his company hadn’t been on the market, but had welcomed the offer as it will make it possible to expand its investment strategy. “The market is offering significant opportunities now for an organization to broaden its focus,” Graham told the WSJ. Europa manages roughly $20bn worth of real estate.