TOKYO — Japanese property group Mitsubishi Estate is acquiring a majority stake in Patron Capital Partners, a U.K. fund manager with assets under management of about 4.6 billion euros ($5.2 billion).
The deal, which will bring Mitsubishi Estate’s assets under management to around $48 billion, is aimed at diversifying the Japanese company’s investments. It will nearly double the proportion of its assets in Europe, where it has a relatively small footprint, to close to 20% of its portfolio.
