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Investing in your future, together
Co-GP Equity is a capital solution that allows real estate Operating Partners to scale their businesses rapidly without any equity dilution or taking on excess debt or risk.
What is Co-GP Equity
The Co-GP equity strategy addresses a common problem faced by operating partners - a lack of equity capital to fund their co-invest commitments in projects they want to pursue.
Panthium offers OPs a source of committed and flexible capital to fill that funding gap. Panthium partners with select OPs to form joint ventures that will pursue select projects together. As part of each joint venture, Panthium commits to funding the majority of the co-invest in each project, while the OP dedicates significant sourcing, underwriting and management resources to executing projects identified for the joint venture.
In addition to providing equity capital for the co-invest, Panthium offers its OPs access to its network of institutional equity capital providers, and provides advisory services on fundraising.
Panthium does not charge fees for the provision of its services, but participates in the value creation of successful projects through sharing of the promote with OPs.
Process
At Panthium, we believe that real estate returns are driven by two things: macroeconomics and operators. We specialize in working with the best in-class operators who are best placed to time investments, as well as execute them.
Our process starts with identifying the best-in-class operating partners within our core markets and geographies. We look at both investment experience as well as investment execution when selecting our partners. After an extensive due diligence process, we formalize a joint venture with our chosen OPs to pursue specific types of investments that fit with the OPs experience and track record.
Projects that fit within our joint venture are pursued jointly, with Panthium assisting with due diligence, preparation of investor relations materials and investor outreach. Once an institutional capital provider is identified, Panthium leads the negotiation of the relevant agreements between the joint venture and our capital partners.
After an acquisition takes place, the OP takes over management of the project in line with the business plan agreed with our capital partner. Panthium does not seek to meddle in what is the operating partner's domain of expertise, and facilitates a smooth investment process for our capital partners.
Co-GP Investment Structure
Our investment structure is simple and easy to put together, and achieves parity in ranking between all equity investors in a real estate project
Why Work With Panthium Capital Group
By working with Panthium, OPs scale up by having more financial firepower, and by gaining access to our network of institutional capital providers.
Relationships
Panthium has existing relationships with institutional equity capital that can allow operating partners to pursue larger transactions and / or add more projects to their portfolio through joint ventures with institutional investors.
Experience Dealing With Institutional Capital
Panthium’s team has extensive experience working in large institutional investment firms, so can leverage their experience of being “on the other side of the table” to drive efficient due diligence and negotiations with institutional equity capital providers by providing advisory services to its operating partners.
Dependable Capital
Panthium is well capitalised and can be counted on to meet all of our operating partners’ capital needs, enhancing certainty of closing transactions with sellers.
Flexible Structure
Panthium has the flexibility and total discretion to utilize a wide array of deal structures as appropriate for a given investment, meeting our operating partners where they are.
Operating Partners We Work With
Panthium Capital Group works with a range of operating partners that are the best at what they do in their respective fields
We look to work with operating partners who have the following characteristics:
Team members with track record of obtaining opportunistic returns
Demonstrate local market expertise
Possess a deep wealth of knowledge for a given asset class
Established firms seeking programmatic JVs with institutional investors
Successful middle market operators seeking to expand capital relationships as their volume and deal size grows
Asset Strategies & Risk Profiles
Panthiums’ Co-GP investment vertical pursues opportunistic investments across Europe, including:
Target Asset Classes
Panthium’s team has extensive experience across all major real estate classes, in particular
New Construction
Renovations
Loan-to-own
Asset Repositioning
Lease Up
Residential
Land
Hospitality
Office
Retail
Typical Investment Terms
Panthium has total discretion in how it structures its equity investments by virtue of being a primarily principal-funded business, and looks to make investments that have the following characteristics.
The co-GP vertical and the direct invest-ment verticals are mutually exclusive and do not overlap. Therefore, we can either make direct investments or pursue a co-GP strategy, but not both on a single investment
Promote sharing and division of responsibilities are to be agreed with operating partners prior to any investment taking place
Panthium does not lend or invest capital in debt like structures, but can explore equity-like instruments
Panthium seeks value add and opportunistic deal level returns
Panthium makes investments ranging from €500k to €10m+ in the co-invest vertical
Panthium’s typical target hold period is 2-5 years with a 10 year max deal horizon
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