UPDATE 1-Rockefeller Group takes majority stake in Europa

Mon Oct 4, 2010 4:14am EDT

* Seals its debut UK buy in privately owned fund manager

* Significant step towards global inv. management strategy

(Adds details)

LONDON, Oct 4 (Reuters) - U.S real estate investor Rockefeller Group International (RGI) has secured its maiden UK real estate deal with the purchase of a majority interest in unlisted London-based property fund manager Europa Capital.

Detailed terms of the deal, which reflects Rockefeller's ambition to build a global property investment management platform, have been kept confidential.

Rockefeller, which is owned by Japan's Mitsubishi Estate Co., is expected to boost Europa's financial strength and access to an international investor base.

Europa's principals will remain in charge of the day-to-day operations and retain a significant minority stake.

"This is a dynamic time for the real estate market and property fund management business and we see significant scope for developing our business from its established base through the introduction of a strategic investor with international reach," the Europa principals said in a statement.

Europa has invested 6 billion euros ($8.3 billion) in 17 European countries since its inception in 1995.

It has about 895 million euros of purchasing power after closing two investment funds targeting European real estate investment opportunities in 2008. (Reporting by Sinead Cruise and Karolina Tagaris; Editing by Andrew Macdonald) ($1=.7250 Euro) (See www.reutersrealestate.com for the global service for real estate professionals from Reuters)

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