INDUSTRY NEWS

US Private equity firm Merced opens new London office

A US-based private equity firm has opened up a new London office.

EBF & Associates is hoping to capitalise on low-priced bank sell-offs by making the move to the UK. The firm has also re-branded itself as Merced Capital to coincide with the London move to 1 Berkeley Street, Mayfair.

Merced managing director, Andrew Platt, said: “We have seen a lot of firms come over to Europe from the US with a lot of money over the last four or five years and those firms have been fairly slow to deploy.

“We have waited and we think now is a better time to come over – the European banks are finally selling off assets at valuations we might find attractive and there are other gaps in the market, typically at the smaller end, to do smaller niche investments”

The firm describes itself as a combination between a typical private equity firm and a hedge fund. It was founded back in 1988 and is based in Minnesota ,where it now has a reported $2.2bn capital under management.

As a business, Merced invests in an array of assets including real estate, aircraft and shopping equipment and companies, it also provides debt and equity financing.

Last year Merced raised a fund of $800 million. The London office will focus specifically on European based real estate investments as currently the firm has focussed exclusively on the US market.

By: Kirsty MacGregor

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