Aermont Capital

About Aermont Capital

Aermont Capital, formerly Perella Weinberg Real Estate until July 2016, is a pan-European real-estate private equity manager. It was founded in 2007 by Leon Bressler and is headquartered in London, United Kingdom, with a management entity in Luxembourg. The firm operates as an independent fund manager and has raised five flagship opportunity funds: Fund I at €1.2 billion, Fund II at €1.3 billion, Fund III at €1.5 billion, Fund IV at €2.0 billion and Fund V at €3.8 billion, representing roughly €13 billion of aggregate equity commitments, plus single-asset vehicles. Reported assets under management were around GBP 14 billion at end-2023. In December 2023 Keppel Ltd agreed to acquire a 50 percent stake in Aermont, completing the first tranche.

Investment thesis

Aermont Capital pursues an opportunistic value-add real-estate strategy, investing in real estate and real-estate-related opportunities through direct asset, corporate and credit situations. The approach is operator-oriented and focused on large complex investments offering long-term value creation. Sector focus spans regional and downtown shopping centres, student accommodation, multiplex cinemas, film production studios and prime office and mixed-use assets. Geography is pan-European, concentrating on prime locations in cities including London, Paris, Berlin, Frankfurt, Barcelona, Amsterdam, Florence, Milan and Lisbon. Funds are large-cap institutional vehicles, and the limited partner base comprises prominent public and private pension plans, sovereign wealth funds and other institutions from Europe, North America, the Middle East and Asia. The value-creation lever is hands-on asset management and repositioning of complex, often operating, real-estate platforms.

Recent activity

Aermont Capital deploys across real-estate sub-sectors including film production studios, student accommodation, shopping centres and prime office and mixed-use assets. The firm continues to invest its flagship opportunity fund series across prime European locations, pursuing operator-oriented value-add repositioning of large and complex real-estate platforms. In December 2023 Keppel Ltd agreed to acquire a 50 percent stake in the firm, anchoring its next phase of growth. Detailed buyer names and multiple data available on Pro at €29/month.