Seller Details
Pradera is a market leading specialist fund and asset manager of shopping centres, retail parks and outlet malls in the UK and Europe. Pradera manages a number of retail-focused funds, including the Pradera European Retail Fund (‘PERF’), the Pradera European Retail Fund 2 (‘PERF2’), the Pradera Open-Ended Retail Fund (‘POERF’) and the Pradera Central & Eastern Fund (’PCEF’). It also actively manages assets through a number of key joint ventures and separate account mandates with private investment groups and sovereign wealth funds.
Buyer Details
Co-founder, Colin Campbell, who already owns 40% of Pradera’s holding company, Kuno, has purchased business partner Paul Whight’s 60% stake for an undisclosed sum. The current Pradera management team is fully supportive of the transaction, which will see Colin Campbell re-appointed Chairman. The management team will be further strengthened by the appointment of shareholder and former Director, David Fletcher, as a fourth Managing Director alongside Alison Rehill, Neil Varnham and Roberto Limetti. Simone Asser, another shareholder and the Finance Director of Pradera from 2001-2010, will re-join the senior team as a Non-Executive Director and corporate finance advisor.
Transaction Summary
Pradera, one of Europe’s leading specialist retail property fund and asset managers, has today announced that it has agreed a deal that will see it remain an independent investment manager. Co-founder, Colin Campbell, who already owns 40% of Pradera’s holding company, Kuno, has purchased business partner Paul Whight’s 60% stake for an undisclosed sum. The sale allows the business to retain the Pradera name and independent management following speculation in 2014 of a sale to a third party.