Benson Elliot recognised for European Fundraise of the Year

Oversubscribed fundraise for Benson Elliot Real Estate Partners III garners kudos from industry peers

1 March 2010 — Benson Elliot Capital Management, the leading private equity real estate firm, is pleased to announce that it has been awarded the 2009 European Fundraise of the Year by Private Equity Real Estate, a key industry publication. The award recognises the successful, oversubscribed closure of Benson Elliot Real Estate Partners III (“BEREP III”), during one of the most turbulent periods experienced in financial markets in decades.

The annual awards are amongst the most significant accolades connected with the global private equity real estate industry, highly regarded because shortlisted companies are independently voted on by the real estate community itself. In 2008, Private Equity Real Estate named Benson Elliot as one of ten emerging managers globally likely “to shape the private equity world around them.”

BEREP III was launched to exploit the opportunities created by unprecedented dislocation in the property sector in the face of the global financial crisis. The €505 million fund will invest in a broad range of performing and non-performing real estate assets across Europe, building on Benson Elliot’s strong track record. Once gearing has been applied, BEREP III will have buying power of €1.5 to €2.0 billion.

Commenting, Marc Mogull, Benson Elliot’s Managing Partner said: “This recognition from investors and peers is a testament to the firm’s professionals, who in less than five years have created one of the most successful independently managed franchises in the private equity real estate industry. This award is a great way to round off a successful, if challenging, 2009, and we look forward to building on this achievement in 2010 and beyond”.

For further information:

Benson Elliot
Marc Mogull, Managing Partner
+44 (0) 20 7808 8900

Financial Dynamics
Stephanie Highett / Dido Laurimore / Rachel Drysdale
+44 (0) 20 7831 3113
rachel.drysdale@fd.com

About Benson Elliot

Benson Elliot was founded in 2005 to realise a vision for successful real estate investing in a changing market environment. Conceived alongside a group of leading institutional investors, the firm is dedicated to delivering sustainable investment out-performance through market cycles. The firm launched its inaugural investment vehicle, Benson Elliot Real Estate Partners II, L.P., in April 2006, closing in August 2006 with commitments of more than €335 million.

In early 2009, the Company announced its second oversubscribed fund, Benson Elliot Real Estate Partners III, L.P., with commitments of over €500 million. All funds managed by Benson Elliot are fully discretionary.

Benson Elliot is led by Marc Mogull and Patricia Barrigan. Mr. Mogull established, and for seven years managed, the Doughty Hanson & Co European Real Estate Fund. Ms. Barrigan was previously Managing Director and Head of Global Real Estate Investments for Dubai Investment Group, moving from Goldman Sachs where she spent ten years primarily in principal investing and portfolio management for the Whitehall Funds.

The Benson Elliot team includes senior industry professionals with experience in sourcing, underwriting and managing real estate investments across Europe and across all major property sectors. Highlighting the firm’s successes Private Equity Real Estate named Benson Elliot “European Emerging Firm of the Year” for 2006. In 2008, Private Equity Real Estate named the firm as one of ten emerging managers globally it expects “to shape the private equity world around them.” Benson Elliot has also recently been awarded the 2009 European Fundraising of the Year (Private Equity Real Estate) for the €505 million Benson Elliot Real Estate Partners III fundraise.