Berkeley Assets, a Dubai-London private equity firm, has launched its operations in Spain, with a new office in Puerto Banus, Marbella, as part of its global expansion plans for this year.

The office will cover the whole of Spain with particular emphasis on Madrid, Barcelona and Malaga through its active distribution network.  Physical offices in the Madrid and Barcelona may follow later in the year, a company statement said.  

Managed by the team at Berkeley Assets’ London headquarters, the Marbella office is working to raise EUR1million per month from the retail market in the first year of operations due to the demand from individuals looking to place capital in private equity.

Mike Clark, partner at Berkeley Assets, said: “We chose Marbella because we want to be in prestigious destinations which are unique and not the obvious financial hot spots.  

“Puerto Banus is a beautiful area, one that is very popular with expatriates, and we believe this is the right time to build a physical presence here as the market picks up again with a lot of potential business in the offing.”

The office is the first of six new locations that Berkeley Assets will open this year as part of a major global expansion of the private equity firm.  Mexico City, Moscow, Cape Town, Hong Kong and Singapore will all follow throughout 2Q to 4Q as part of the company’s strategy to meet demand.  The firm’s Dubai office will manage all Far East operations.

Omar Jackson, partner at Berkeley Assets, said:  “We are launching in areas where we know there is an appetite for private equity, and Spain presents a number of lucrative opportunities for us, both in terms of raising capital from institutional and the retail market as well as investment projects.  

“We are currently considering a substantial investment in Spain, which would be our first outside of the UK and the US.

“The retail market is generally more educated today; they understand the benefits of private equity and are leaning towards those options for personal investments. There is more faith in PE these days because it is outperforming every other aspect of the finance industry and is the most trusted sector.”

Berkeley Assets raised $112.8 million in total in 2018, with $16.2 million generated from the retail market and the remainder from institutional investors, far exceeding its capital raising targets.

The company’s portfolio of properties spans multiple sectors and includes existing and new to market assets in some of the world’s most sought after locations, including London, New York, and Miami. – TradeArabia News Service