Pradera is delighted to announce that Rhys Evans (Chief Executive), Barry Cox (Chief Investment Officer), Roberto Limetti (Senior Managing Director) and Rob Walker, a long-standing Pradera non-executive director, became shareholders of Pradera Limited just before Christmas. The transaction, which was led by Colin Campbell, Rhys, Barry and Roberto, includes Vukile Property Fund as an important minority shareholder.  The transaction has resulted in the full exit of previous minority shareholder AlTi Global.

Vukile is a specialist shopping centre REIT listed on the Johannesburg Stock Exchange, with a track-record spanning more than 20 years.  From its base in South Africa, it expanded successfully into Spain in 2018 and, more recently, into Portugal.  Vukile’s business in both countries  is held through its 99.7% held subsidiary, Castellana Properties, which is listed on Spain’s MAB and led by Alfonso Brunet, a former senior employee at Pradera in Spain from 2006 to 2017.

The transaction does not result in any changes to the business or day-to-day management of Pradera. Pradera’s objective remains to be the leading third-party retail sector specialist asset and investment manager in Europe and Vukile’s investment should assist us in achieving that objective.

Pradera’s board has been strengthened by the appointment of Laurence Rapp and Jon Zehner as non-executive directors.  Laurence Rapp is Vukile’s Chief Executive Officer and Jon Zehner is a non-executive director of Vukile.  Jon Zehner was most recently Vice Chairman of LaSalle Investment Management after 28 years at J.P.Morgan in the US, the UK and South Africa.

The transaction further embeds our three executive directors, Rhys, Barry and Roberto, in Pradera while adding Rob Walker and Vukile, a real specialist in shopping centres, to Pradera’s shareholder roster.

Colin Campbell, Chairman of Pradera, said: ‘It is a strong vote of confidence in the future of Pradera that our senior management team and specialist retail investors have invested in Pradera.  We are very excited for the future.  We have a very good team, a market-leading reputation, a wide range of industry and investor contacts throughout the real estate world and a strong shareholder base, who are now all retail sector specialists’.